Nigeria plans quick sale of joint venture assets

摘要

Nigeria plans to quickly raise around US $2.25 Bn by selling off some of its stakes in joint venture acreage next year in order to raise funds for capital expenditure. Many experienced government figures have been calling for years for NNPC to sell off some of its interest in the joint ventures to enable commercial operators to take control and borrow money under normal financial models. They have been pushing for a situation similar to Nigeria LNG where NNPC holds only 49% whereas it holds 55% or 60% in the joint ventures.