• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Thursday, May 15, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Nigeria To Get $1.05bn Oil-backed Afreximbank Loan Balance In May

by Leadership News
1 year ago
in Business
Nigeria
Share on WhatsAppShare on FacebookShare on XTelegram

Nigeria will in May, receive a $1.05 billion loan from the African Export-Import Bank (Afreximbank), being part of a $3.3 billion prepayment facility arranged by the Nigerian National Petroleum Company Limited (NNPCL), Bloomberg reports.

Advertisement

The funds will be repaid using crude cargoes from the NNPCL. Recall that two-thirds of the largest syndicated loan raised by Africa’s biggest oil producer was disbursed in January.
Afreximbank’s senior executive vice president for Finance, Administration and Banking, Denys Denya said the bank has verified the crude availability and would release the balance next month.

He stated, “The verification of the crude availability has happened, so we expect in the next month to finalise the release of the balance. Based on future production, you get the money now.”

This amount is the balance of a $3.3 billion prepayment scheme planned by the African Export-Import Bank, which will be repaid through crude oil shipments from the National Petroleum Co.,

This syndicated loan will be backed by Nigeria’s oil reserves, providing the country with vital funds to revive its economy and address the shortage of hard currency.

RELATED

itel Solar Energy Opens First Customer Experience Centre In Lagos Market

itel Solar Energy Opens First Customer Experience Centre In Lagos Market

5 hours ago
Fidson Invests ₦3.7bn To Boost Local Pharma Production In 2024

Fidson Invests ₦3.7bn To Boost Local Pharma Production In 2024

17 hours ago

The influx of foreign currency is expected to stabilise the local foreign exchange market, making it easier for businesses to import goods and conduct international trade. This, in turn, could stimulate economic activity and growth.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel



Tags: AfreximbankNigerian National Petroleum Company (NNPC)
SendShareTweetShare
Previous Post

NNPC Owes $3bn Backlog On Petrol Payments – Report

Next Post

Emirates To Resume Flights To Nigeria Before June – Minister

Leadership News

Leadership News

You May Like

itel Solar Energy Opens First Customer Experience Centre In Lagos Market
Business

itel Solar Energy Opens First Customer Experience Centre In Lagos Market

2025/05/14
Fidson Invests ₦3.7bn To Boost Local Pharma Production In 2024
Business

Fidson Invests ₦3.7bn To Boost Local Pharma Production In 2024

2025/05/14
NRC Suspends Rail Services ln Delta
Business

Vandalism: NRC Averts Train Accident Along Warri-Itakpe Railway Corridor

2025/05/14
External Reserves Dip 6.5% YTD On Debt Servicing, Dollar Sales
Business

External Reserves Dip 6.5% YTD On Debt Servicing, Dollar Sales

2025/05/14
CBN Reassures Public On Bank Deposit Safety, Dismisses Licence Revocation Fears
Business

CBN Unveils Non-resident BVN Platform, Targets $1bn Monthly Diaspora Remittance

2025/05/14
Business

Poor Infrastructure Affecting Tax Compliance – Market Groups

2025/05/14
Leadership Conference advertisement

LATEST

Senate Minority Whip Urges JAMB To Extend Rescheduled UTME By 2 Weeks

ASUU Threatens To Sue JAMB Over UTME Mass Failure

Akpabio Harps On Importance Of Census For National Planning

Final Year Student Of Michael Okpara Varsity Slumps, Dies

Police Confirm Arrest of 9 Suspected Killers Of PDP Chieftain In Adamawa

Bandits Kidnapped 200 In My Constituency, Says Zamfara Federal Rep

itel Solar Energy Opens First Customer Experience Centre In Lagos Market

NYCN Reconstitutes Key Leadership Structures

Cassie Ventura Gives Evidence In Sean Diddy’s Trial

Shadow Gov’t: DSS Drags Pat Utomi To Court, Accuses Him Of Usurping Tinubu’s Powers

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.