Close Menu
    Facebook X (Twitter) Instagram
    Trending
    • Tinubu Urges Governors To Invest More In Poverty Eradication, Others
    • Kano Governor Appoints ICPC Veteran, Saidu Yahya As New Anti-Corruption Boss
    • INEC Mobilises Stakeholders Ahead Of August 12 Voter Registration In Yobe
    • Kaduna Summit Backs Tinubu’s Reforms, Demands More On Education, Citizen Dialogue
    • Keynote Address By Tony O. Elumelu At The African Caucus Meeting
    • Super Eagles Forward, Osimhen Completes Transfer To Galatasaray In Record €75m Deal
    • AfroBasket 2025: Nigeria’s D’Tigress To Play Cameroon In Quarter-Final
    • Palestinian Newborns Starving In Gaza As Infant Formula Runs Out
    Facebook X (Twitter) Instagram
    NEWS POINT NIGERIANEWS POINT NIGERIA
    UBA 720X90
    • HOME
    • NEWS

      Tinubu Urges Governors To Invest More In Poverty Eradication, Others

      August 1, 2025

      Kano Governor Appoints ICPC Veteran, Saidu Yahya As New Anti-Corruption Boss

      August 1, 2025

      INEC Mobilises Stakeholders Ahead Of August 12 Voter Registration In Yobe

      August 1, 2025

      Kaduna Summit Backs Tinubu’s Reforms, Demands More On Education, Citizen Dialogue

      August 1, 2025

      N160bn Budgeted, Yet No Meals: Suspended School Feeding Scheme Strands 9 Million Pupils, 250,000 Jobs

      July 31, 2025
    • COLUMN

      Balkanisation, Push-Back: Can ADC Weather The Storm? – By Zainab Suleiman Okino

      July 31, 2025

      Buhari: May Our Subsequent Leaders Die At Home (2) – By Dr Hassan Gimba

      July 28, 2025

      New Wave Of Malnutrition And The Road To 2027 – By Dr Dakuku Peterside

      July 28, 2025

      Dignifying The Nigeria Police – By Kazeem Akintunde

      July 28, 2025

      Land Grab: Why UniAbuja Needs Presidential Protection (Part 2) – By Martins Oloja

      July 28, 2025
    • EDUCATION

      13 Countries Offering Free Or Low-Cost PhD Programmes For Non-Citizens

      January 25, 2025

      NECO: Abia, Imo Top Performing States In Two Years, Katsina, Zamfara Come Last

      October 3, 2024

      NBTE Accredits 17 Programmes At Federal Polytechnic Kabo

      August 20, 2024

      15 Most Expensive Universities In Nigeria

      May 19, 2024

      FULL LIST: Tinubu Appoints Former SGF Yayale, Ex-Governor Yuguda, Muhammad Abacha, Jega In Universities’ Governing Councils

      May 18, 2024
    • INTERNATIONAL

      Palestinian Newborns Starving In Gaza As Infant Formula Runs Out

      August 1, 2025

      Microsoft Accuses Russia’s FSB Of Using Malware Against Foreign Embassies

      August 1, 2025

      Israel Starves More Palestinians To Death In Gaza As Attacks Continue

      July 31, 2025

      Trump Hits India With 25% Tariff, Extra ‘Penalty’ For Russian Oil Purchases

      July 31, 2025

      Gaza On ‘Brink Of Full-Scale Famine’ As Israel Blocks Crucial Aid

      July 30, 2025
    • JUDICIARY

      FULL LIST: Judicial Council Recommends Appointment Of 11 Supreme Court Justices

      December 6, 2023

      Supreme Court: Judicial Council Screens 22 Nominees, Candidates Face DSS, Others

      November 29, 2023

      FULL LIST: Judicial Commission Nominates 22 Justices For Elevation To Supreme Court

      November 16, 2023

      Seven Key Issues Resolved By Seven Supreme Court Judges

      October 26, 2023

      FULL LIST: CJN To Swear In Falana’s Wife, 57 Others As SANs November 27

      October 12, 2023
    • POLITICS

      What Peter Obi May Lose If He Joins Coalition As VP Candidate

      May 25, 2025

      Atiku Moves To Unseat Wike’s Damagum As PDP Chairman, Backs Suswam As Replacement

      April 15, 2024

      Edo’s Senator Matthew Uroghide, Others Defect To APC

      April 13, 2024

      Finally, Wike Opens Up On Rift With Peter Odili

      April 2, 2024

      El-Rufa’i’s Debt Burden: APC Suspends Women Leader For Criticising Kaduna Gov

      March 31, 2024
    • SPORTS

      Super Eagles Forward, Osimhen Completes Transfer To Galatasaray In Record €75m Deal

      August 1, 2025

      AfroBasket 2025: Nigeria’s D’Tigress To Play Cameroon In Quarter-Final

      August 1, 2025

      Nigeria’s D’Tigress Await Angola, Cameroon As 2025 Afrobasket Enters Quarterfinals

      July 31, 2025

      Manchester United Open Talks To Sign RB Leipzig’s Benjamin Sesko

      July 31, 2025

      Remo Stars Begin NPFL Title Defence Against Rivers United, Abia Warriors Host Pillars

      July 30, 2025
    • MORE
      • AFRICA
      • ANALYSIS
      • BUSINESS
      • ENTERTAINMENT
      • FEATURED
      • LENS SPEAK
      • INFO – TECH
      • INTERVIEW
      • NIGERIA DECIDES
      • OPINION
      • Personality Profile
      • Picture of the month
      • Science
      • Special Project
      • Videos
      • Weekend Sports
    NEWS POINT NIGERIANEWS POINT NIGERIA
    UBA 720X90
    Home - NNPCL Secures $3bn Loan To Stabilise Naira

    NNPCL Secures $3bn Loan To Stabilise Naira

    By Peter Noah KCAugust 16, 2023
    NNPCL Loan

    THE Nigerian National Petroleum Company (NNPC) Limited has secured a $3 billion Emergency Crude Repayment Loan from African Export-Import Bank (AFREXIM) Bank.

    In a short statement disclosing the deal, the NNPC said the commitment letter, which was signed at AFREXIM Bank’s headquarters in Cairo, Egypt on Wednesday, will enable it to support the Federal Government in its ongoing fiscal and monetary policy reforms aimed at stabilising the exchange rate market.

    The short statement reads, “The NNPC Ltd. and @afreximbank have jointly signed a commitment letter and Termsheet for an emergency $3billion crude oil repayment loan.

    UBA

    “The signing, which took place today at the bank’s headquarters in Cairo, Egypt, will provide some immediate disbursement that will enable the NNPC Ltd. to support the Federal Government in its ongoing fiscal and monetary policy reforms aimed at stabilizing the exchange rate market.”

    The NNPCL loan deal is coming after the acting Governor of the Central Bank of Nigeria (CBN), Folashodun Shonubi, on Monday promised that the apex bank will, in the next few days, be taking steps to improve the liquidity in the foreign exchange market.

    WIDGET ADS

    Shonubi disclosed that he had met with President Bola Tinubu, whom he said voiced his concern regarding developments in the market and its impact on Nigerians.

    The acting CBN governor shared his belief that the changes in the market are driven mostly by speculative demand and was confident that the steps that will be implemented soon will significantly impact the market.

    Thomas Sankara African Leadership Prize

    The naira has hit a significant decline since the Tinubu administration ended petrol subsidy and unified all segments of foreign exchange market. The exchange of a dollar to naira has since risen from around 451 naira to a dollar to 785 naira.

    President Tinubu had during his nationwide broadcast on July 31, said his government is monitoring the effects of exchange rates and inflation in Premium Motor Spirit (PMS) aka petrol prices and will intervene when necessary.

    Nigerian TAX Reform - Federal Goverment

    “We are also monitoring the effects of exchange rates and inflation on gasoline prices. If and when necessary, we will intervene. I assure you, my fellow countrymen and women, that we are exiting the darkness to enter a new and glorious dawn,” Tinubu had said.

    National Orientation Agency Page UP
    $3bn Loan Naira Stability NNPCL
    Share. Facebook Twitter WhatsApp LinkedIn Telegram Email

    Related Posts

    Tinubu Urges Governors To Invest More In Poverty Eradication, Others

    August 1, 2025

    Kano Governor Appoints ICPC Veteran, Saidu Yahya As New Anti-Corruption Boss

    August 1, 2025

    INEC Mobilises Stakeholders Ahead Of August 12 Voter Registration In Yobe

    August 1, 2025

    Kaduna Summit Backs Tinubu’s Reforms, Demands More On Education, Citizen Dialogue

    August 1, 2025
    Add A Comment
    Leave A Reply Cancel Reply

    Latest Posts

    Tinubu Urges Governors To Invest More In Poverty Eradication, Others

    August 1, 2025

    Kano Governor Appoints ICPC Veteran, Saidu Yahya As New Anti-Corruption Boss

    August 1, 2025

    INEC Mobilises Stakeholders Ahead Of August 12 Voter Registration In Yobe

    August 1, 2025

    Kaduna Summit Backs Tinubu’s Reforms, Demands More On Education, Citizen Dialogue

    August 1, 2025

    Keynote Address By Tony O. Elumelu At The African Caucus Meeting

    August 1, 2025
    Advertisement
    WIDGET ADS
    News Point NG
    © 2025 NEWS POINT NIGERIA Developed by ENGRMKS & CO.
    • Home
    • About us
    • Disclaimer
    • Our Advert Rates
    • Privacy Policy
    • Terms of Use

    Type above and press Enter to search. Press Esc to cancel.

    Join Us On WhatsApp