• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Saturday, October 25, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

NNPC secures $5bn from Afreximbank fo fund investments

NNPC

The Matters Press by The Matters Press
January 28, 2022
Reading Time: 1 min read
0
Stakeholders commend NNPC for good performance

The Nigerian National Petroleum Company Limited (NNPC) has secured a $5 billion corporate finance commitment from the African Export-Import Bank (Afreximbank) to fund major investments in Nigeria’s upstream sector.

RELATED POSTS

Think tank blames historically poor management of resources on Nigeria’s high poverty prevalence

Nigeria’s Poor Get a Makeover: A Critical Analysis of Tinubu’s application of the law of requisite varieties in the reduction of poverty in Nigeria

‎IMPI revises inflation rate projection to 14% from 17% for December

The funding commitment was sequel to a meeting between Chairman of the Board of Directors and President of the Bank, Professor Benedict Oramah, and the NNPC team led by the Group Managing Director, Mallam Mele Kyari, on Wednesday in Cairo.

On the trip with Kyari were NNPC’s Chief Financial Officer, Umar Ajiya; Group Executive Director, Upstream, Adokiye Tombomieye; and Managing Director, NNPC Trading, Lawal Sade.

The Group General Manager, National Petroleum Investment Management Services (NAPIMS), Mr. Bala Wunti, also accompanied the NNPC helmsman to the event.

Afreximbank

The funding arrangement, according to a statement yesterday, would be the first major deal by the national oil company since the enactment of the Petroleum Industry Act (PIA) and the incorporation of NNPC as a limited liability company under the Companies and Allied Matters Act (CAMA).

Under the contract, Afreximbank agreed to enter into a finance advisory and fundraising role to raise $5 billion to, “acquire, invest and operate energy producing assets in Nigeria as part of NNPC’s growth strategy following its incorporation as a limited liability company.”

Furthermore, the bank committed to underwrite $1 billion as part of forward sales based trade finance transaction.

More=ThisDay=

Tags: NNPC
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

POLICY STATEMENT 027 BY THE INDEPENDENT MEDIA AND POLICY INITIATIVE (IMPI)
Economy/Technology

Think tank blames historically poor management of resources on Nigeria’s high poverty prevalence

October 24, 2025
POLICY STATEMENT 027 BY THE INDEPENDENT MEDIA AND POLICY INITIATIVE (IMPI)
Economy/Technology

Nigeria’s Poor Get a Makeover: A Critical Analysis of Tinubu’s application of the law of requisite varieties in the reduction of poverty in Nigeria

October 22, 2025
NBS reports increase in Inflation
Economy/Technology

‎IMPI revises inflation rate projection to 14% from 17% for December

October 22, 2025
CSOs give  thumps-up to Tinubu’s ONSA-NCTC, back Trump aide’s dismissal of Christian genocide in Nigeria
Agriculture

CSOs give thumps-up to Tinubu’s ONSA-NCTC, back Trump aide’s dismissal of Christian genocide in Nigeria

October 22, 2025
Standing With the Bello Family – Justice Must Never Be Cheapened
Energy

Standing With the Bello Family – Justice Must Never Be Cheapened

October 17, 2025
You led with distinction, CG of Customs, hails former boss,  Mohammed at 80
Economy/Technology

You led with distinction, CG of Customs, hails former boss, Mohammed at 80

October 10, 2025
Next Post
Buhari underscores the opportunities in a single African air transport

Santos Aviation valued $37bn

Nigeria gets $12 billion credit from World Bank, IMF in 2020

IMF says economic slowdown will persist in China

Recommended Stories

3,000 manufacturers to attend global fair on industrial solution in Lagos

Nigeria releases N100bn Consumer Credit Fund to support manufacturers

March 15, 2024
NNPC makes N203bn from products sale in July

NNPC makes N203bn from products sale in July

December 25, 2021
“Naira-4-Dollar” getting results

Naira records marginal gain against dollar

July 22, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Think tank blames historically poor management of resources on Nigeria’s high poverty prevalence
  • Nigeria’s Poor Get a Makeover: A Critical Analysis of Tinubu’s application of the law of requisite varieties in the reduction of poverty in Nigeria
  • ‎IMPI revises inflation rate projection to 14% from 17% for December

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us