NNPC runs out of options, solicits stakeholders’ support for $1.5b loan

The Nigerian National Petroleum Corporation (NNPC) is running out of options to get the $1.5 billion loan to offset creditors’ debts.

After criticism from the media, debt management office and lawmakers, the NNPC has began to solicit for the support of stakeholders in its bid to secure the loan.

Responding to questions on the development, the Group Managing Director of the Corporation, Andrew Yakubu, said NNPC really need the money to upset its debts and clear its name to remain competitive and relevant in the market. Read more