Nigeria receives $1.05bn oil-backed loan from Afreximbank by end May for economy revival and forex supply.
Nigeria will receive a $1.05bn oil-backed loan from the African Export-Import Bank (Afreximbank) by the end of May, to help revive the economy and boost the supply of hard currency on the local foreign exchange market. The funds form part of a $3.3bn prepayment facility arranged by Afreximbank, which will be repaid using crude cargoes from Nigeria's state-owned energy firm, National Petroleum Co. Two-thirds of the loan was disbursed in January.
April 08, 2024
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