By Emeka Anaeto The National Economic Council (NEC) has approved the refinancing of NNPC Limited’s $3.3 billion oil-backed pre-export finance facility through a ‌new $4.5 billion arrangement. According to a report by Bloomberg quoting Presidency source, the facility is aimed at strengthening the country’s external rese…

The National Economic Council on Monday approved the refinancing of the $3.3bn Project Gazelle Pre-Export Finance Facility through a new $4.5bn facility named Project Gazelle 2. The approval came at the 159th meeting of NEC, held virtually and chaired by Vice President Kashim Shettima, following a presentation by the M…

…is nowhere near what many people believe. Even for domestic borrowing, much of it is refinancing. Debt that was borrowed previously matures, and the government raises new debt to refinance it. That is not new borrowing,” he said. According to him, the administration had maintained a responsible borrowing strategy focus…

…many FMCG companies aggressively repaired their balance sheets through debt reduction, refinancing and equity raises, resulting in materially lower debt burdens by 2025." He added that the pause in monetary tightening and modest moderation in rates reduced funding pressure. "Consequently, consumer goods companies enter…