Nigeria Seals $925m Loan Deal With Afreximbank Leveraging Oil Resources

Nigeria Seals $925m Loan Deal With Afreximbank Leveraging Oil Resources

Afreximbank has announced an additional disbursement of $925 million for Nigeria’s crude oil-backed loan, part of a $3.3 billion facility managed by Nigerian National Petroleum Company Limited.

This brings the total funded amount to $3.175 billion under the Project Gazelle Funding Limited.

The disbursement, coordinated by Afreximbank, involved a consortium including Oando Group and Sahara Energy Resource Limited.

This funding aims to bolster Nigeria’s economic stability, long-term growth, industrialization, and trade development efforts, according to Afreximbank’s statement.