Topic: NNPC seeks $500 million loan payable over 9 years to fix refineries  (Read 3119 times)

0 Members and 1 Guest are viewing this topic.

To fix the nation’s ailing refineries, the Nigerian National Petroleum Corporation (NNPC) said it has finalised plans to get external funds of $500 million.

The Group Managing Director of the Corporation, Dr Ibe Kachikwu, said this yesterday in Lagos as a guest speaker at a luncheon organised by The Petroleum Club Lagos. The NNPC chief said the decision to seek repayable fund is in line with the transformation of the NNPC to become an autonomous business venture.

The $500 million, Kachikwu said, will bring the refineries back on course to give the required capacity output, adding that the funds would be repaid over the next seven to nine years.


 

Related Topics

  Subject / Started by Replies Last post
0 Replies
2470 Views
Last post December 26, 2012, 07:32:26 AM
by cappy
0 Replies
4585 Views
Last post November 21, 2013, 09:24:04 AM
by dayod247
0 Replies
1944 Views
Last post January 15, 2015, 01:00:50 AM
by flukky-1
0 Replies
2784 Views
Last post March 07, 2015, 10:45:12 AM
by flukky01
0 Replies
2160 Views
Last post September 28, 2015, 01:00:55 AM
by clowntom
0 Replies
2088 Views
Last post January 22, 2016, 01:01:31 AM
by sahara
0 Replies
1899 Views
Last post April 01, 2016, 07:00:37 PM
by olutee
0 Replies
1639 Views
Last post July 17, 2017, 01:02:20 PM
by flukky-2
0 Replies
12581 Views
Last post December 18, 2019, 06:44:44 AM
by flukky01
0 Replies
1211 Views
Last post October 15, 2023, 07:00:47 AM
by olutee