Nigeria National Petroleum Corporation (NNPC) has signed a $1.5 billion cash-for-crude prepayment loan with the world’s top biggest independent oil trader Vitol Group and Nigeria’s Matrix Energy, a decision that comes with huge implications for Africa’s biggest economy. Already cash-strapped and weighed down by billions of dollars in old debts, NNPC has been looking to… for further reading, please click on https://businessday.ng/lead-story/article/heres-the-implication-of-nnpcs-1-5bn-deal-with-vitol-matrix/
SOURCE:BusinessDay Newspaper July 30, 2020.