…Unlocks $3bn fresh liquidity The National Economic Council (NEC) has approved the refinancing of the $3.3bn ‘Project Gazelle Pre-Export Finance Facility’ through a new $4.5bn Project Gazelle 2 arrangement. The move is expected to unlock $3bn in fresh liquidity while reducing Nigeria’s crude oil commitments under the facility. The approval was granted at the 159th NEC meeting, held virtually on Monday, and chaired by Vice-President Kashim Shettima, following a presentation by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele. According to a statement issued by the…
Read MoreNEC approves $4.5bn oil-backed loan refinancing
