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Saturday, June 14, 2025 23:30 GMT
Nigeria and Saudi Arabian oil company Aramco are struggling to reach an agreement on a record US$5 billion oil-backed loan after a recent decline in crude prices sparked concern among banks that were expected to back the deal, four sources told Reuters. The facility would be Nigeria's largest oil-backed loan to date and Saudi Arabia's first participation of this scale in the country, although the decline in oil price could shrink the size of the deal, the sources said. Nigeria's President...More