NNPC Refinancing Loan with the Afreximbank

NNPC just took a $4.5bn loan to refinance its old $3.3bn oil-backed facility, and Nigeria gets to keep more of its crude in the process.

Here's what “Project Gazelle 2” actually means for the naira, external reserves, and the government's infrastructure plans: https://www.bigcapitalintel.com/2026/08/nigeria-approves-4-5bn-nnpc-oil-backed-loan-refinancing.html