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OIL AND GAS
NEC Approves $4.5 Billion NNPC Facility to Strengthen External Reserves
Investors King
Aug 5, 2026 · 09:40 WAT
Nigeria’s National Economic Council has approved a $4.5 billion oil-backed financing arrangement for NNPC Limited under Project Gazelle 2. The facility is intended to refinance existing pre-export financing, strengthen external reserves, improve liquidity and provide additional resources for government priorities.