Nigerian National Petroleum Corporation took to their social media page to announce the signing of $3billion Emergency Crude Repayment Loan from Afrexim Bank in Cairo, Egypt on Wednesday 16th August 2023.
Below is the post made from their social media accounts :
BREAKING
Relief For The Naira: NNPC Ltd Secures $3billion Emergency Crude Repayment Loan from AFREXIM Bank
The NNPC Ltd. and @afreximbank have jointly signed a commitment letter and Termsheet for an emergency $3billion crude oil repayment loan.
The signing, which took place today at the bank's headquarters in Cairo, Egypt, will provide some immediate disbursement that will enable the NNPC Ltd. to support the Federal Government in its ongoing fiscal and monetary policy reforms aimed at stabilising the exchange rate
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