Nigeria Seeks to Boost Economy With $1 Billion Oil-Backed Loan ...Middle East

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Nigeria Seeks to Boost Economy With $1 Billion Oil-Backed Loan
source : OILPRICE ( Middle East ) () 138
Africa’s biggest crude oil producer, Nigeria, is expected to receive a $1 billion loan from the African Export-Import Bank (Afreximbank) next month as part of a larger crude oil prepayment facility aimed at shoring up forex reserves and boosting the economy.   “The verification of the crude availability has happened so we expect in the next month to finalize the release of the balance,” Denys Denya, senior executive vice president for finance, administration, and banking at Afreximbank, told Bloomberg. “Based on future…

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