{"id":97747,"date":"2025-06-11T00:00:00","date_gmt":"2025-06-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/11\/aramco-nigeria-struggle-to-finalize-usd-5-bn-loan-due-to-oil-volatility\/"},"modified":"2025-06-11T00:00:00","modified_gmt":"2025-06-11T00:00:00","slug":"aramco-nigeria-struggle-to-finalize-usd-5-bn-loan-due-to-oil-volatility","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/11\/aramco-nigeria-struggle-to-finalize-usd-5-bn-loan-due-to-oil-volatility\/","title":{"rendered":"Aramco, Nigeria struggle to finalize USD 5 bn loan due to oil volatility"},"content":{"rendered":"

Nigeria and state-owned energy giant Aramco are struggling to finalize a record USD 5 bn <\/strong>oil-backed loan agreement<\/strong>, in what would be the country\u2019s largest ever oil-backed loan, Reuters<\/a> reports, citing four unnamed sources. The agreement is slowing on the back of a recent decline in crude oil prices, which has sparked concerns among banks that were expected to participate in the agreement, the sources told the newswire.<\/p>\n

The banks \u2014 which reportedly include <\/strong>Gulf banks and at least one African lender<\/strong> \u2014 are expected to fund part of the loan along with Aramco. \"It's hard to find anyone to underwrite it,\" one source told Reuters, citing concerns over the availability of the cargoes<\/p>\n

A<\/strong> USD 5 bn loan would need to be backed by at least 100k bbl \/ d<\/strong>, the sources said. NPPC \u2014 Nigeria\u2019s state-owned oil company \u2014 is already using some 300k bbl \/ d to repay other oil-backed loans. The amount of oil used to pay the loans are fixed, which means lower crude prices would increase the time necessary for repayment.<\/p>\n

This would be the Kingdom\u2019s largest scale of participation in Nigeria\u2019s economy so far, <\/strong>but the recent decline in oil prices could lessen the size of the agreement, the sources said. The loan agreement was first put on the table by Nigerian president Bola Tinubu back in November during a meeting with Crown Prince Mohammed bin Salman in Riyadh at the Saudi-African Summit, two of the sources said.<\/p>\n

IN CONTEXT-<\/strong> In early April<\/a>, Opec+ announced a long-delayed plan to gradually return 2.2<\/a>mn bbl \/ d<\/a> of oil to the market over 18 months, and then proceeded to accelerate these output hikes at triple the initially expected rate, with that last hike agreed on the group\u2019s meeting late last month. Goldman Sachs then expect<\/a>ed<\/a> Brent crude to average USD 63 a barrel for the remainder of 2025, before dropping further to USD 58 in 2026, with JP Morgan showing similar forecasts<\/a> for prices potentially sinking to the \u201chigh USD 50s\u201d later this year.<\/p>\n","protected":false},"excerpt":{"rendered":"

The decline in crude oil prices has sparked concerns among banks<\/p>\n","protected":false},"author":1,"featured_media":97748,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2590],"tags":[139,57,10,159],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-97747","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-aramco","tag-debt-watch","tag-enterpriseam-ksa","tag-oil-watch","wpautop","entry"],"acf":{"mongo_id":"f6782dc6-c0af-4c98-8600-071d02303529","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/6\/525.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Aramco, Nigeria struggle to finalize USD 5 bn loan due to oil volatility","related_issue":[97737],"teaser":"The decline in crude oil prices has sparked concerns among banks","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/6\/.f7e740d7-f435-41fd-94b0-af161b1adf52.mp3"},"yoast_head":"\nAramco, Nigeria struggle to finalize USD 5 bn loan due to oil volatility - 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