The Nigerian National Petroleum Company (NNPC) Limited has signed a $1.4 billion financing agreement for Northern Hydrocarbon Funding Limited.
A statement seen by Nairametrics said the financing agreement was arranged by Standard Chartered Bank and United Bank for Africa (UBA).
About sixteen lenders are participating in the financing programme. The NNPC’s Executive Vice President in charge of Upstream, Adokiye Tombomieye, expressed delight over this, noting that it shows stakeholders’ confidence in the NNPC He said.
He used the occasion to appreciate the lenders, the arrangers of the deal and everyone else who worked on making sure the deal came to fruition.
Tombomieye added that the funding will facilitate the NNPC’s commitment to sustainably meet today’s energy needs and deliver energy for the future.