Reuters: NNPC Eyes New $2bn Crude Oil for Cash Loan to Boost Production, Others Deal to entail 35,000bpd as repayment
Emmanuel Addeh in Abuja and Peter Uzoho with agency report
The Nigerian National Petroleum
Company Limited (NNPC) is contemplating sealing another crude oil-for-cash loan to enable it raise at least $2 billion, with between 30,000
to 35,000 barrels per day repayment option. Two unidentified people familiar with the situation told Reuters.
NNPC Group Chief Executive Officer, Mele Kyari confirmed the company's plan to take the loan against the 30,000 to 35,000bpd of
crude production, but declined to disclose how much money it sought, the report said. The national oil company is
embarking on the loan to boost its finances and allow investment in its Continued on page 9
El-Rufai to Kaduna Govt: You Plucked Outlandish Figures to Portray My Administration as Corrupt... Page 8 Wednesday 10 July, 2024 Vol 29. No 10682. Price: N400
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In Response to Herders/Farmers’ Clashes President Creates Livestock Development Ministry
Opts for ranching, inaugurates livestock reform implementation committee headed by him Names former INEC chairman, Attahiru Jega, deputy and co-chair
Deji Elumoye in Abuja
President Bola Tinubu, yesterday,
announced the creation of Ministry of Livestock Development, in a bold move to stop the recurring
clashes between herders and crop farmers, which had resulted in the destruction of lives and property
across the country. Tinubu made the announcement during the inauguration of the
“Renewed Hope Livestock Reform Implementation Committee” at the Council Chambers of State House,
Abuja. Continued on page 9
Address Food Crisis to Avoid Nigerians’ Anger, Senate Urges FG Explains how governors, federal lawmakers will share 2,800 trucks to farmers Threatens to summon agriculture minister, CBN governor if process is delayed Lawan claims country’s food reserves empty
Sunday Aborisade in Abuja The Senate yesterday, asked the federal government to immediately address the issue of food insecurity in the country in
order to avert an imminent crisis. The red chamber stressed that this was necessary to avoid the wrath of Nigerians who are curContinued on page 9
NESG: Fuel Subsidy Removal, FX Reforms courtesy visit to the IG... Worsened Structural Issues, Enhanced Inspector General of Police, Kayode Egbetokun (left) and Managing Director, West African Ventures Limited (WAV), a leading oil industry servicing Govt Revenues, Others... Page 9 company in the country, Michael Dumbi Amaeshike, when Amaeshike paid a courtesy visit to the IG at the Force Headquarters, Abuja... recently