Transcribed
Nigerian Petroleum Company to Pay Royalties, Taxes From $3.3bn Afrexim Loan
Jan 22, 2024 ·
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Nigerian Petroleum Company to Pay Royalties, Taxes From $3.3bn Afrexim Loan
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Description
The Nigerian National Petroleum Company Limited, says it would prepay future royalties and taxes to the Federal Government from the $3.3bn financing deal it got from African Export-Import Bank last...
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The Nigerian National Petroleum Company Limited, says it would prepay future royalties and taxes to the Federal Government from the $3.3bn financing deal it got from African Export-Import Bank last year.
NNPCL explained that the loan would be used by the oil company to support the Federal Government in stabilising Nigeria’s exchange rate.
The company also stated that it adopted a lower price benchmark for the $3.3bn crude-for-cash loan to reduce the risk of default and ensure financial stability.
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NNPCL explained that the loan would be used by the oil company to support the Federal Government in stabilising Nigeria’s exchange rate.
The company also stated that it adopted a lower price benchmark for the $3.3bn crude-for-cash loan to reduce the risk of default and ensure financial stability.
Information
| Author | Africa Business Radio |
| Organization | Africa Business Radio |
| Website | - |
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