The African Export Import Bank (AFREXIM Bank) has committed $5 billion in corporate finance to the Nigerian National Petroleum Company Ltd to fund major investments in the country’s upstream sector.


This fund raise is in response to President Muhammadu Buhari’s signing of the Petroleum Industry Act in August 2021, under which the NNPC was re-incorporated as a commercially oriented limited liability company. The $5 billion they raised will now allow them to acquire and operate producing oil and gas assets in Nigeria.

The funding commitment was the result of a meeting between the NNPC Ltd team led by Group Managing Director/Chief Executive Officer Mele Kyari and the Chairman of the Board of Directors and President of the African Export-Import Bank (Afreximbank), Benedict Oramah, in Cairo, Egypt on Wednesday, according to several local and international sources sighted by NIPC Intelligence.

According to the reports, NNPC and Afreximbank agreed to deepen their business collaboration, among other things.

“The bank agreed to play a finance advisory and fundraising role in order to raise $5 billion for the “acquisition, investment, and operation of energy” producing assets in Nigeria as part of NNPC’s growth strategy following its incorporation as a limited liability company.”

“Afreximbank will also underwrite $1 billion as part of the landmark transaction as part of the forward sales base trade finance transaction.”

“The NNPC and Afreximbank also explored the innovative idea of establishing a pan-African Energy Transition Bank and agreed to collaborate toward achieving the goal,” according to the reports.

SOURCE:https://brandspurng.com/2022/01/30/nnpc-has-secures-5-billion-funding-for-oil-and-gas-upstream-projects/

To what end ? This northern business organization is the worst parastatal

Election money don set.

Wonderful

Awesome!!
All the enemies of Nigeria will lose las las. They always lose. God bless Nigeria forever.

Congratulations to all our patriots who made this feat possible. May God bless you and your families.

This NNPC MD called Mele Kyari is a Nigerian Patriot that has got the Midas touch. He is just too good. I remember then the naysayers say we will never get funding for Train 7, under his leadership, he didn't only get the funding for the Train 7,he got the IOCs back on board.

Now with his zeal and commitment and political will of PMB to get the decade long PIA PDP could not give us, same Mele Kyari is leading the transition of NNPC from a government agency to start operating as NNPC Limited that will eventually list its shares on Nigeria Stock Exchange.

If you want a good mentor in excellence and patriotism, go and ask about and read about the man Mele Kyari.

This is a milestone and I applaud President Muhammadu Buhari, NNPC and Afrexim, under the leadership of another Nigerian Patriot ,Benedict Oramah, for making it a success.

This is a huge investment to help us increase investment in the oil and gas industry and increase our asset in that sector. I really hope oil price remains favourable to enable the investment pay back in a profitable business model.

Nnpc and billings
another cash out
Political yahoo yahoo

Great move. Let's hope that these are the fruits will be harvest out of the PIA.

Hm

I hope the money will be use wisely

Ok

Northern Nigerian Petroleum Corporation

abobote:
To what end ? They will still record losses at the end

nay sayer

Enemies of my country now in pain.

inforesource:
Election money don set.

Hhh am telling ma guy

I pray they make judicious use of it..

All a strategy to pack everything

Now the looting begins..

FreeStuffsNG:
Awesome!!
All the enemies of Nigeria will lose las las. They always lose. God bless Nigeria forever.

Congratulations to all our patriots who made this feat possible. May God bless you and your families.

This NNPC MD called Mele Kyari is a Nigerian Patriot that has got the Midas touch. He is just too good. I remember then the naysayers say we will never get funding for Train 7, under his leadership, he didn't only get the funding for the Train 7,he got the IOCs back on board.

Now with his zeal and commitment and political will of PMB to get the decade long PIA PDP could not give us, same Mele Kyari is leading the transition of NNPC from a government agency to start operating as NNPC Limited that will eventually list its shares on Nigeria Stock Exchange.

If you want a good mentor in excellence and patriotism, go and ask about and read about the man Mele Kyari.

This is a milestone and I applaud President Muhammadu Buhari, NNPC and Afrexim, under the leadership of another Nigerian Patriot ,Benedict Oramah, for making it a success.

This is a huge investment to help us increase investment in the oil and gas industry and increase our asset in that sector. I really hope oil price remains favourable to enable the investment pay back in a profitable business model.

Tinubu is a cold bloody MURDERER!

He murdered Funsho Williams in cold blood!

YorubaKing:


Tinubu is a cold bloody MURDERER!

He murdered Funsho Williams in cold blood!

Really
Cc Seun Mynd44 Lalasticlala

FreeStuffsNG:

Really
Cc Seun Mynd44 Lalasticlala

These are public political figures accountable to the people... It shows the kind of employee you are to that murderer called Tinubu.

Tinubu is a cold bloody MURDERER!

He murdered Funsho Williams in cold blood!

YorubaKing:


These are public political figures accountable to the people... It shows the kind of employee you are to that murderer called Tinubu.

Tinubu is a cold bloody MURDERER!

He murdered Funsho Williams in cold blood!

Oh! Tell me more.
Cc Seun Mynd44 Lalasticlala
Here's a troll

FreeStuffsNG:

Oh! Tell me more.
Cc Seun Mynd44 Lalasticlala
Here's a troll

No, I'm not! I'm ONLY voicing my concern like the way you're here campaigning and promoting the image of a murderer.

Please don't construct any useless AKK out of that money...

Use that money to support various brownfield volume uplift projects..

With our JV structure, 3bn of this will be matched with 2bn by the IoC...

That's 5bn USD into the sector...

Set your target to 10 dollars per barrel cost and uplift of 500kbd...

That should get us back to 2m barrel in as little as 2 years...

FreeStuffsNG:
Awesome!!
All the enemies of Nigeria will lose las las. They always lose. God bless Nigeria forever.

Congratulations to all our patriots who made this feat possible. May God bless you and your families.

This NNPC MD called Mele Kyari is a Nigerian Patriot that has got the Midas touch. He is just too good. I remember then the naysayers say we will never get funding for Train 7, under his leadership, he didn't only get the funding for the Train 7,he got the IOCs back on board.

Now with his zeal and commitment and political will of PMB to get the decade long PIA PDP could not give us, same Mele Kyari is leading the transition of NNPC from a government agency to start operating as NNPC Limited that will eventually list its shares on Nigeria Stock Exchange.

If you want a good mentor in excellence and patriotism, go and ask about and read about the man Mele Kyari.

This is a milestone and I applaud President Muhammadu Buhari, NNPC and Afrexim, under the leadership of another Nigerian Patriot ,Benedict Oramah, for making it a success.

This is a huge investment to help us increase investment in the oil and gas industry and increase our asset in that sector. I really hope oil price remains favourable to enable the investment pay back in a profitable business model.

Dude quit all this senseless propaganda, NNPC got a facility not an investment bro. Again IOCs are divesting from Nigeria seriously so stop living in LaLa land abeg. Check for 2021 and Q1 of 2022 that just started how many Oil and Gas investment decisions from IOCs have favoured Nigeria. How many new fields have the IOCs announced FEED decision on? Oga abeg stop these senseless propaganda once again

obynzo:


Dude quit all this senseless propaganda, NNPC got a facility not an investment bro. Again IOCs are divesting from Nigeria seriously so stop living in LaLa land abeg. Check for 2021 and Q1 of 2022 that just started how many Oil and Gas investment decisions from IOCs have favoured Nigeria. How many new fields have the IOCs announced FEED decision on? Oga abeg stop these senseless propaganda once again

Good evening sir. Projects can be financed by equity and/or debt, please I don't understand in what way is it senseless to appreciate that NNPC could finally get funds for a project that should have been completed since 2007 yet remained on paper. Secondly, that's a substantial forex inflow and if you are familiar with this kind of projects, you should be happy for CBN and why this fund is not provided by BNP Paribas of France et al.


Now what's your angst exactly? That you don't know that Afrexim has technical systems in place to evaluate the project as able to payback the debt and the interest payable on it is better than just keeping idle funds?


Now please read my original post again, slowly, please where did I feign that the exit of IOCs was not a concern yet ,unlike you who sees all the problems but not a single solution, Mele Kyari and his team got the Train 7 back on and the funds needed. Why that offends you so much is what I am struggling to separate from the usual bitterness, bigotry and hatred for PMB I sensed in your angst .


Would you rather the PMB administration leave it this train 7 project just like his predecessors and the investment killed or what gan?
Is it that the jobs created and the benefit of the forex conserved so much a bad news to you that you are now so upset?

Na wa for all of you. You all just don't have a clue about our challenges as a nation yet you are upset and hold so much bitterness just for tribal, religious and political differences reasons of hating PMB.
Sir, for once, please be happy for Nigeria or just do me a favour by just stop quoting me sir.

All the enemies of Nigeria will lose las las. They always lose. God bless Nigeria forever.

FreeStuffsNG:


Good evening sir. Projects can be financed by equity and/or debt, please I don't understand in what way is it senseless to appreciate that NNPC could finally get funds for a project that should have been completed since 2007 yet remained on paper. Secondly, that's a substantial forex inflow and if you are familiar with this kind of projects, you should be happy for CBN and why this fund is not provided by BNP Paribas of France et al.


Now what's your angst exactly? That you don't know that Afrexim has technical systems in place to evaluate the project as able to payback the debt and the interest payable on it is better than just keeping idle funds?


Now please read my original post again, slowly, please where did I feign that the exit of IOCs was not a concern yet ,unlike you who sees all the problems but not a single solution, Mele Kyari and his team got the Train 7 back on and the funds needed. Why that offends you so much is what I am struggling to separate from the usual bitterness, bigotry and hatred for PMB I sensed in your angst .


Would you rather the PMB administration leave it this train 7 project just like his predecessors and the investment killed or what gan?
Is it that the jobs created and the benefit of the forex conserved so much a bad news to you that you are now so upset?

Na wa for all of you. You all just don't have a clue about our challenges as a nation yet you are upset and hold so much bitterness just for tribal, religious and political differences reasons of hating PMB.
Sir, for once, please be happy for Nigeria or just do me a favour by just stop quoting me sir.

All the enemies of Nigeria will lose las las. They always lose. God bless Nigeria forever.

Train 7 decision is something that was on the table even during GEJ and the loan from Afrexim is just to help NNPC meet up their cash call obligations towards the train 7 projects and other JVs but in hindsight no new project has been initiated by the IOCs in Nigeria and they are divesting fron their Assets especially in land and shallow water.

obynzo:

Train 7 decision is something that was on the table even during GEJ and the loan from Afrexim is just to help NNPC meet up their cash call obligations towards the train 7 projects and other JVs but in hindsight no new project has been initiated by the IOCs in Nigeria and they are divesting fron their Assets especially in land and shallow water.

Na u get time to reply that apc paid troll @freestuffsng. He don't even know what he is commenting only doing blind posting everywhere

Oh