Reuters: Falling Oil Prices Delay FG’s $5bn Oil-backed Loan from Saudi Aramco Parties may renegotiate record deal
Emmanuel Addeh in Abuja and Peter Uzoho in Lagos
Recent falling oil prices are delaying a deal by Nigeria and Saudi Arabian oil company, Aramco, as
both parties struggle to reach an agreement on a record $5 billion oil-backed loan.
Banks that were expected to back the deal, four sources told Reuters, are raising concerns over
the current situation of the oil market, the report stated. A THISDAY report in March
this year had shed light on the Continued on page 9
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