• Nigeria seals $15bn upfront payment for crude with India

    Nigeria seals $15bn upfront payment for crude with India

    According to reports, the Federal Government yesterday, sealed a $15 billion deal with India, wherein the latter would make upfront payment for crude oil purchases from Nigeria.

    Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, while cementing the deal on behalf of Nigeria, explained that the terms of the deal would be agreed in due course.

    Under the deal, Kachikwu disclosed that the Indian government would make an upfront payment for crude purchase to Nigeria, to be repaid on the basis […]