News
NNPC Seeks $2Billion Loan With Crude Oil As Collateral
The Managing Director of the Nigeria National Petroleum Corporation, Mele kyari, has disclosed the corporation’s interest to secure a 2Billion dollar loan.
According to NNPC Boss, the loan is meant to service the company’s business activities and production. The loan will be secured with a collateral of crude oil.
Kyari says, “We have no problem covering our gasoline payments. This is just money for normal business and not a desperate act,”.
The Loan is pledged against 30,000-35,000 daily crude oil production by the NNPC.
Although the oil firm wanted a daily loan against 30,000-35,000 barrels of crude oil production but did not say how much money NNPC was requesting.
