We Backed Dangote Refinery Establishment With $1bn Loan – NNPCL

Petrol Prices Dangote Price

The Nigerian National Petroleum Company Limited (NNPCL) has announced securing a $1bn crude-backed loan to facilitate the operations of the 650,000 barrels-per-day Dangote Petroleum Refinery and address liquidity challenges. Chief Corporate Communications Officer, Olufemi Soneye, revealed this during the Energy Relations Stakeholders Engagement in Abuja on Monday. EDITOR’S PICKS  PDP Declares Ethiope East Federal Seat … Read more

Nigeria’s Debt to World Bank’s IDA Climbs to $17.1 Billion

World Bank $32m Water Project

Nigeria’s debt to the World Bank’s International Development Association (IDA) rose to $17.1 billion as of September 30, 2024. According to the World Bank’s financial statements for the fiscal year ending September 2024, this marks a $600 million increase from the $16.5 billion recorded in June 2024. With this figure, Nigeria remains the third-largest debtor … Read more