{"id":31769,"date":"2021-07-01T16:11:17","date_gmt":"2021-07-01T15:11:17","guid":{"rendered":"https:\/\/thefreezonechannel.com\/?p=31769"},"modified":"2021-10-07T00:43:15","modified_gmt":"2021-10-07T00:43:15","slug":"nnpc-banks-discuss-3-9bn-loan-for-acquisition-of-shares-in-dangote-refinery","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/nnpc-banks-discuss-3-9bn-loan-for-acquisition-of-shares-in-dangote-refinery\/","title":{"rendered":"NNPC, Banks discuss $3.9bn loan for acquisition of shares in Dangote refinery \u00a0"},"content":{"rendered":"<p class=\"yiv2239208433MsoNoSpacing\">Talks have resumed on the sourcing of $3.9 billion by Nigeria National Petroleum Corporation (NNPC) to acquire\u00a0\u00a020 percent equity in the $19 billion Dangote Petroleum Refinery.<\/p>\n<p class=\"yiv2239208433MsoNoSpacing\">\n<p class=\"yiv2239208433MsoNoSpacing\">The discussion is between commercial banks and the state-owned NNPC which has been asking for the fund to invest in the refinery.<\/p>\n<p class=\"yiv2239208433MsoNoSpacing\">\n<p class=\"yiv2239208433MsoNoSpacing\">NNPC plan to buy equity in the refinery which, will begin production in 2022,\u00a0\u00a0broke over two weeks ago, NNPC\u2019s Group Managing Director (GMD), Mr Mele Kyari,\u00a0\u00a0said.<\/p>\n<p class=\"yiv2239208433MsoNoSpacing\">\n<p class=\"yiv2239208433MsoNoSpacing\">But Kyari did not say the net value of 20 percent equity which will make the corporation a member of the board of the refinery.<\/p>\n<p class=\"yiv2239208433MsoNoSpacing\">\n<p class=\"yiv2239208433MsoNoSpacing\">His words: \u201cOn the\u00a0\u00a0Dangote Refinery, we are not going to take our (Federal Government) money and buy it (equity).<\/p>\n<p class=\"yiv2239208433MsoNoSpacing\">\n<p class=\"yiv2239208433MsoNoSpacing\">\u201c We are going to borrow for the cash flow of this business. We know that this business is viable, it will work and that it will return dividends. It has a cash flow that is sustainable because it is a refinery business.<\/p>\n<p class=\"yiv2239208433MsoNoSpacing\">\n<p class=\"yiv2239208433MsoNoSpacing\">\u201cIn the short term, it will continue to be sustainable. And that is why banks have come up to lend to us so that we can take up equity\u201d.<\/p>\n<p class=\"yiv2239208433MsoNoSpacing\">\n<p class=\"yiv2239208433MsoNoSpacing\">More=Nation=<\/p>\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-31769\" data-postid=\"31769\" class=\"themify_builder_content themify_builder_content-31769 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->\n","protected":false},"excerpt":{"rendered":"<p>Talks have resumed on the sourcing of $3.9 billion by Nigeria National Petroleum Corporation (NNPC) to acquire\u00a0\u00a020 percent equity in the $19 billion Dangote Petroleum Refinery. The discussion is between commercial banks and the state-owned NNPC which has been asking for the fund to invest in the refinery. NNPC plan to buy equity in the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10437,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[125],"tags":[254],"class_list":["post-31769","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-money","tag-nnpc","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NNPC, Banks discuss $3.9bn loan for acquisition of shares in Dangote refinery \u00a0 - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/nnpc-banks-discuss-3-9bn-loan-for-acquisition-of-shares-in-dangote-refinery\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NNPC, Banks discuss $3.9bn loan for acquisition of shares in Dangote refinery \u00a0 - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"Talks have resumed on the sourcing of $3.9 billion by Nigeria National Petroleum Corporation (NNPC) to acquire\u00a0\u00a020 percent equity in the $19 billion Dangote Petroleum Refinery. 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