Nigerian Petroleum Company, NNPCL Secures $3Billion Loan To Stabilise Naira

According to NNPCL, the money will be used to increase the value of the country’s currency, naira, at the international market.

The Nigerian National Petroleum Company Limited has said it has secured an emergency $3 billion crude oil repayment loan to stabilise the country’s exchange rates. The company said this in a tweet on Wednesday, adding that the $3 billion is from AFREXIM Bank, the trade finance bank for Africa. According to NNPCL, the money will be used to increase the value of the country’s currency, naira, at the international market.

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