For a loan deal the federal lawmakers described as "illegal," the House of Representatives yesterday ordered the Nigerian National Petroleum Corporation (NNPC) to stop further action on the contentious $1.5 billion syndicated credit obtained by the state oil company to reportedly pay off accumulated debts for petrol already supplied by foreign importers.
Nigeria: Reps Order NNPC to 'Suspend' U.S.$1.5 Billion Loan
Leadership (Abuja), 17 January 2013
For a loan deal the federal lawmakers described as "illegal," the House of Representatives yesterday ordered the Nigerian National Petroleum Corporation (NNPC) to stop further action on the contentious $1.5 billion syndicated credit obtained by the state oil company to reportedly pay off accumulated debts for petrol already supplied by foreign importers.
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