Lingering Fuel Crisis: NNPCL Seeks Fresh Crude-Backed $2bn Loan

The Nigerian National Petroleum Company Limited has confirmed that is in talks for another oil-backed loan to boost its finances and allow investment in its business.
According to reports, NNPCL is seeking to raise at least $2bn through the proposed new loan.
There are however concerns about this proposed crude backed loan as oil marketers want the NNPCL to be mindful of such loans so they do not become detrimental to Nigeria’s oil sector.
Talks of a loan are coming at a time when the country is experiencing fuel scarcity and marketers say they are having issues with purchasing the product.
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