The Nigerian National Petroleum Company Limited, on Wednesday, said it would make an official announcement when the company is ready to take the earlier reported $2bn crude-backed loan.
It was reported on Tuesday that NNPC was in talks for another oil-backed loan to boost its finances and allow investment in its business, according to the company’s Group Chief Executive Officer, Mele Kyari.
Sources familiar with the situation told Reuters that the oil firm aims to raise at least $2bn through the proposed new loan.
But when contacted on Wednesday to speak on the report, the Chief Corporate Communications Officer, NNPC, Olufemi Soneye, told our correspondent that the national oil firm would make an official announcement anytime the company is ready to proceed with the deal.
He noted that though the company would require funding to carry out its high capital-intensive operations, it would follow the laid down process to announce its…