NNPC secures N3.7bn financing, to boost output by 150,000bpd


By Michael Eboh

The Nigerian National Petroleum Corporation, yesterday, said it has secured a total of $3.7 billion in Alternative Financing Agreement in the last three years.

This was even as the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, commended the NNPC for spearheading hydrocarbon exploration in the country’s inland basins.


In a statement in Abuja, Group Managing Director of the NNPC, Mr. Maikanti Baru, stated that securing external funding arrangement was crucial to sustaining oil and gas production in Nigeria and ensuring the survival of Nigeria’s energy future.

Baru, who was speaking at the 35th Annual Conference of the Nigerian Association of Petrol


eum Explorationists (NAPE) in Lagos, said, “Within the last three years, we have embarked on several successful Alternative Funding Programmes to sustain and increase the national…

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