Yesterday, the Federal Government clarified that a definitive decision has not yet been made regarding the $5 billion forward sale of crude oil involving Saudi Arabian oil giant Aramco and the Nigerian National Petroleum Company Limited (NNPC Ltd.).
While dismissing allegations of the deal’s collapse, the Finance Ministry published the clarification.
On Tuesday, a Reuters report indicated that the $5 billion loan initiative had fallen through due to the steep decline in global oil prices.
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