Crude-for-loan: Local crude demand rises as NNPCL battles debt servicing

The Nigerian National Petroleum Company Limited may continue servicing its crude-for-loan obligations till 2029 as the demand for oil by domestic refineries increases. NNPCL’s debt burden arises from several crude-for-loan agreements that have tied volumes of the country’s oil production to various financial commitments. This is as the local demand for crude has continued to

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