FG Approves $4.5bn NNPCL Oil-Backed Financing To Boost FX Reserves, Infrastructure

The Federal Government has approved a $4.5 billion oil-backed financing arrangement involving NNPCL. Finance Minister Taiwo Oyedele said the structure is intended to free resources for strengthening foreign-exchange reserves and funding ongoing infrastructure priorities, with potential implications for Nigeria’s financing conditions and listed-sector activity.