NNPCL To Take ₦3.4 Trillion Crude Oil-Backed Loan

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Naijanews July 10, 2024 8:07 a.m.

NNPCL To Take ₦3.4 Trillion Crude Oil-Backed Loan

According to Reuters, the $2 billion – ₦3,047,740,000,000 (Three trillion, Forty-seven billion, Seven hundred and forty million naira) using the Central Bank of Nigeria (CBN) buying cap of ₦1523.87 to $1 – would be sourced from international financial institutions.

This is as Nairametrics reported thatNNPCLwas yet to pay international oil traders a backlog of $6 billion – ₦9,143,220,000,000 (Nine trillion, One hundred and Forty-three billion, Two hundred and Twenty million naira)..

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