Post by TheCable (@thecableng)

NEC approves $4.5bn refinancing of NNPC's oil-backed loan

The National Economic Council (NEC) has approved the refinancing of the $3.3 billion Project Gazelle pre-export finance facility through a new $4.5 billion facility named ‘Project Gazelle 2’.

The approval is expected to enable the Nigerian National Petroleum Company (NNPC) Limited to refinance the outstanding balance of $1.5 billion under the original 2023 facility while unlocking an additional $3 billion in liquidity to strengthen the country’s external reserves and support the ongoing fiscal and infrastructure priorities of the government.

https://www.thecable.ng/nec-approves-4-5bn-refinancing-of-nnpcs-oil-backed-loan/

NEC approves $4.5bn refinancing of NNPC's oil-backed loan The National Economic Council (NEC) has...

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