NNPC Secures $1.036 Billion Loan For 20% Stake In Dangote Refinery - Business - Nairaland
Nairaland Forum / Nairaland / General / Business / NNPC Secures $1.036 Billion Loan For 20% Stake In Dangote Refinery (89 Views)
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| NNPC Secures $1.036 Billion Loan For 20% Stake In Dangote Refinery by Mateco556: 12:57pm On Jan 29 |
The Nigerian National Petroleum Company (NNPC) Ltd has finalized a deal to acquire a 20% stake in Dangote Refinery for $2.76 billion, backed by a $1.036 billion loan from Lekki Refinery Funding Limited. The financial arrangement, disclosed in NNPC’s audited financial report for 2022, outlines a repayment plan of 35,000 barrels of crude oil per day. Additionally, NNPC agreed to complete the payment through a combination of a $2.5/bbl discount on the official selling price per barrel and 100% of its share of any dividends declared by the refinery. The move is part of NNPC’s strategy to strengthen its position in the energy sector. https://ratecaptain.com/nnpc-secures-1-036-billion-loan-for-20-stake-in-dangote-refinery/ |
| Re: NNPC Secures $1.036 Billion Loan For 20% Stake In Dangote Refinery by Mrvictorwrite(m): 12:58pm On Jan 29 |
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