Nigeria Halts U.S.$1.5 Billion Loan Proposal


The House of Representatives has ordered the Nigerian National Petroleum Corporation to stop plans to obtain a syndicated loan of U.S.$1.5 billion dollars to pay its debt.
Photo: Leadership

Oil refinery

  • Nigeria:  NNPC's Oil-for-Loan Plan

    Daily Trust, 17 January 2013

    The recent announcement by the Nigerian National Petroleum Corporation (NNPC) that it planned to borrow 1.5 billion dollars to pay off its debts has naturally elicited disquiet ... read more »

  • Nigeria:  Reps Probe NNPC Over U.S.$1.5 Billion Foreign Loan

    Vanguard, 16 January 2013

    The House of Representatives, Wednesday, directed its Committees on Petroleum, Justice, Loans and Debts to investigate an alleged plan by the Nigeria National Petroleum Corporation ... read more »

  • Nigeria:  Reps Probes NNPC's U.S.$1.5 Billion Loan

    Daily Trust, 17 January 2013

    The House of Representatives has mandated its Joint Committee on Loans and Debts, Justice, Petroleum Downstream and Upstream to investigate an alleged plan by the NNPC to obtain a ... read more »

  • Nigeria:  Nigeria Loses N165 Billion to Pipeline Vandalism in Four Years - PPMC

    Vanguard, 17 January 2013

    Pipelines and Products Marketing Company Limited, PPMC, yesterday, said the economy had lost about N165 billion in the last four years to pipeline vandalism. The sum includes the ... read more »

  • Nigeria:  Nigeria's Oil Production Stagnant for 40yrs - Report

    Daily Trust, 16 January 2013

    Nigeria's oil production has remained stagnant in the last 40 years, a report from ExxonMobil Corporation has said. read more »

  • Nigeria:  December Allocation - FG, States, LGs Share N567.708 Billion

    Daily Trust, 15 January 2013

    The Federal, states and local governments have shared N567.708 billion naira for as monthly allocation for the month of December, 2012. read more »

  • Nigeria:  Threats of Court Action Forced NNPC to Seek U.S.$1.5 Billion Loan

    This Day, 15 January 2013

    Threats of law suits, coupled with court injunctions ordering the seizure of global assets belonging to the Nigerian National Petroleum Corporation (NNPC), are the primary reasons ... read more »

  • Nigeria:  How Nigeria Raised U.S.$1.5 Billion to Finance Fuel Subsidy

    Vanguard, 12 January 2013

    Former Minister of Petroleum Resources, Prof. Tam David West, seems to have given up on the country's subsidy palaver. read more »

  • Nigeria:  NNPC U.S.$1.5 Billion Loan Is Good Business Strategy, Say TUC, Pengassan

    This Day, 11 January 2013

    The Trade Union Congress (TUC) has described the decision of the Nigerian National Petroleum Corporation (NNPC) to secure a $1.5 billion syndicated loan to help it pay debts to ... read more »

  • Nigeria:  NNPC Gets Presidential Nod On U.S.$1.5 Billion Loan

    This Day, 9 January 2013

    President Goodluck Jonathan has given his consent to the Nigerian National Petroleum Corporation (NNPC) to secure a $1.5 billion syndicated loan from Nigerian and international ... read more »

  • Nigeria:  TUC Picks Hole in NNPC's U.S.$1.5 Billion Loan

    Daily Trust, 9 January 2013

    The Trade Union Congress of Nigeria (TUC) has condemned the Nigerian National Petroleum Corporation (NNPC) over the $1.5billion syndicated loan it took to pay debt owed ... read more »

  • Nigeria:  U.S.$1.5 Billion Fuel Debt Loan By NNPC Illegal - NASS

    Leadership, 9 January 2013

    Both chambers of the National Assembly yesterday separately faulted the $1.5 billion loan reportedly secured by the Nigerian National Petroleum Corporation (NNPC) to pay off debt ... read more »