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Afreximbank seals $750mn financing with Heirs Energies to boost Nigeria’s oil output

Dr. George Elombi, President of Afreximbank and Mr. Tony Elumelu, Chairman, Heirs Energies Limited with the signed agreement. Photo: Afreximbank
Dr. George Elombi, President of Afreximbank and Mr. Tony Elumelu, Chairman, Heirs Energies Limited with the signed agreement. Photo: Afreximbank

Kent Mensah

Kent Mensah is a seasoned Ghanaian journalist with a two-decade career spanning global media networks.
  • $750mn Afreximbank facility backs Heirs Energies’ expansion drive
  • Deal strengthens Nigeria’s domestic oil, gas and power supply

 

ABUJA, NIGERIA – African Export-Import Bank and Heirs Energies Limited have signed a $750 million financing deal to scale up oil and gas production in Nigeria as energy demand rises.

The partnership is aimed at optimising Heirs Energies’ capital structure and unlocking liquidity to support its working capital needs and field development programme.

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