The African Export-Import Bank (Afreximbank) has confirmed an initial disbursement of $2.25 billion out of the $3.3 billion crude oil prepayment facility recently approved for Nigeria.
The long-awaited credit support seeks to ameliorate the acute FX shortage in the country which has constrained economic activities and doused investors’ confidence.Also earlier in December, President Bola Tinubu had assured Nigerians of the commitment of his administration to resolve the FX backlogs through the injection of funds into the market A statement by Afreximbank…