Nigeria LNG in Talks with Lenders to Fund $10B Expansion

Nigeria LNG Ltd., the operator of Africa’s largest natural gas plant, is in talks with lenders to finance a $10 billion expansion.

The company is discussing with the country’s top-10 lenders including Guaranty Trust Bank and Zenith Bank, to raise as much as $2 billion, and with foreign lenders and export-credit agencies for the balance, Chief Executive Officer Tony Attah said. The funds will go toward building the gas plant’s seventh train, expected to boost output by 40%.


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