$3 BILLION CRUDE OIL REPAYMENT LOAN

The Nigerian National Petroleum Corporation Ltd and Afrexim Bank Have Jointly Signed a Commitment Letter and Termsheet for an Emergency $3billion Crude Oil Repayment Loan For The NNPC Ltd .

A statement by the Company Disclosed That
The Group Chief Executive Officer, GCEO NNPC Ltd, Mele Kyari and Executive Vice President, AFREXIMBANK, George Elimbi signed the agreement on behalf of their respective organisations, At The Bank’s Headquarters In Cairo Egypt On Wednesday

The Loan Agreement According To Reports Which Is Expected To Fast Track Disbursement, Will Enable The Corporation Support The Nigerian Government In It’s Ongoing Fiscal And Monetary Policy Reforms Aimed At Stabilising The Exchange Rate Market.