The National Economic Council on Monday approved the refinancing of the $3.3bn Project Gazelle Pre-Export Finance Facility through a new $4.5bn facility named Project Gazelle 2.The approval came at the 159th meeting of NEC, held virtually and chaired by Vice President Kashim Shettima, following a presentation by the Minister of Finance and Coordinating Minister of the Economy, Dr Taiwo Oyedele, on the significance of the refinancing arrangement.The approval allows the Nigerian National Petroleum Company Limited to refinance the outstanding balance of approximately $1.5bn under the original 2023 facility while unlocking an additional $3bn in liquidity to strengthen Nigeria’s external reserves and support ongoing fiscal and infrastructure priorities.Senior Special Assistant to the President on Media and Communications in the Office of the Vice President, Stanley Nkwocha, revealed details of the approval in a statement he signed Monday titled ‘NEC Approves Refinancing of $3.3bn Project Gazelle to Optimise Cost, Unlock Additional Liquidity.’According to Nkwocha, Council observed the significance of unlocking additional liquidity for the federation and pledged its support for the actualisation of the initiative.Briefing journalists after the meeting, Oyedele explained that the new arrangement had been structured on considerably more favourable terms than the original facility, including a substantial reduction in the volume of crude oil pledged to secure the loan.He explained, “The refinancing has been structured on more favourable terms than the original facility, including a reduction in the volume of pledged crude oil from 90,000 barrels of oil per day to approximately 78,750 barrels of oil per day, a 12.5 per cent reduction.”Oyedele said the reduction in pledged volume translated directly into more crude available for the federation to sell and retain revenue from outside the terms of the facility.“Under the new arrangement, an additional 11,250 barrels of oil per day for the federation will be released, while there will be a reduction in the pledged crude volumes by NNPC Limited,” he said.Related NewsMakinde knocks Tinubu’s economic reforms, rallies support for APM ahead 2027Soludo urges collaboration to attract investment, create jobsIt’s armed robbery, Frank Edoho decries soaring Lagos real estate pricesThe Minister described the refinancing as a dual achievement, improved liquidity access on better terms while simultaneously strengthening the country’s overall financing structure.He stated, “While accessing additional liquidity on improved terms, the arrangement is freeing up resources for strategic national priorities while strengthening the country’s financing structures.”In his opening remarks to Council, Vice President Shettima called for the design of a responsive, scalable and data-driven social protection policy to confront multidimensional poverty in Nigeria, framing the challenge in vivid and deeply human terms.He argued, “Government policies are often heard before they are seen they speak through the price of food, the condition of hospitals, the records in schools, the strain on families, the confidence of those who invest their labour in the nation’s future, and, very importantly, the ambitions of state governments.”The VP urged Council members to ensure that every decision reached at NEC left ordinary Nigerians with confidence that their government was attentive and responsive to their daily struggles.“Every decision we make must assure the citizens that their government is paying attention to the pulse of the nation and is resolved to respond with competence, compassion and purpose,” he said.Project Gazelle was originally structured in 2023 as a pre-export finance facility secured against future crude oil sales, designed to provide Nigeria with dollar liquidity to defend the naira and support foreign exchange market stability amid the sharp currency volatility that followed the administration’s unification of exchange rate windows.The refinancing under Project Gazelle 2 extends and restructures that facility on improved terms, reflecting both the larger size of the new facility and NNPC Limited’s improved negotiating position following three years of oil sector reforms aimed at attracting fresh investment from international oil companies and boosting domestic production capacity. The approval came at the 159th meeting of NEC, held virtually and chaired by Vice President Kashim Shettima, following a presentation by the Minister of Finance and Coordinating Minister of the Economy, Dr Taiwo Oyedele, on the significance of the refinancing arrangement.The approval allows the Nigerian National Petroleum Company Limited to refinance the outstanding balance of approximately $1.5bn under the original 2023 facility while unlocking an additional $3bn in liquidity to strengthen Nigeria’s external reserves and support ongoing fiscal and infrastructure priorities.Senior Special Assistant to the President on Media and Communications in the Office of the Vice President, Stanley Nkwocha, revealed details of the approval in a statement he signed Monday titled ‘NEC Approves Refinancing of $3.3bn Project Gazelle to Optimise Cost, Unlock Additional Liquidity.’According to Nkwocha, Council observed the significance of unlocking additional liquidity for the federation and pledged its support for the actualisation of the initiative.Briefing journalists after the meeting, Oyedele explained that the new arrangement had been structured on considerably more favourable terms than the original facility, including a substantial reduction in the volume of crude oil pledged to secure the loan.He explained, “The refinancing has been structured on more favourable terms than the original facility, including a reduction in the volume of pledged crude oil from 90,000 barrels of oil per day to approximately 78,750 barrels of oil per day, a 12.5 per cent reduction.”Oyedele said the reduction in pledged volume translated directly into more crude available for the federation to sell and retain revenue from outside the terms of the facility.“Under the new arrangement, an additional 11,250 barrels of oil per day for the federation will be released, while there will be a reduction in the pledged crude volumes by NNPC Limited,” he said.Related NewsMakinde knocks Tinubu’s economic reforms, rallies support for APM ahead 2027Soludo urges collaboration to attract investment, create jobsIt’s armed robbery, Frank Edoho decries soaring Lagos real estate pricesThe Minister described the refinancing as a dual achievement, improved liquidity access on better terms while simultaneously strengthening the country’s overall financing structure.He stated, “While accessing additional liquidity on improved terms, the arrangement is freeing up resources for strategic national priorities while strengthening the country’s financing structures.”In his opening remarks to Council, Vice President Shettima called for the design of a responsive, scalable and data-driven social protection policy to confront multidimensional poverty in Nigeria, framing the challenge in vivid and deeply human terms.He argued, “Government policies are often heard before they are seen they speak through the price of food, the condition of hospitals, the records in schools, the strain on families, the confidence of those who invest their labour in the nation’s future, and, very importantly, the ambitions of state governments.”The VP urged Council members to ensure that every decision reached at NEC left ordinary Nigerians with confidence that their government was attentive and responsive to their daily struggles.“Every decision we make must assure the citizens that their government is paying attention to the pulse of the nation and is resolved to respond with competence, compassion and purpose,” he said.Project Gazelle was originally structured in 2023 as a pre-export finance facility secured against future crude oil sales, designed to provide Nigeria with dollar liquidity to defend the naira and support foreign exchange market stability amid the sharp currency volatility that followed the administration’s unification of exchange rate windows.The refinancing under Project Gazelle 2 extends and restructures that facility on improved terms, reflecting both the larger size of the new facility and NNPC Limited’s improved negotiating position following three years of oil sector reforms aimed at attracting fresh investment from international oil companies and boosting domestic production capacity. The approval allows the Nigerian National Petroleum Company Limited to refinance the outstanding balance of approximately $1.5bn under the original 2023 facility while unlocking an additional $3bn in liquidity to strengthen Nigeria’s external reserves and support ongoing fiscal and infrastructure priorities.Senior Special Assistant to the President on Media and Communications in the Office of the Vice President, Stanley Nkwocha, revealed details of the approval in a statement he signed Monday titled ‘NEC Approves Refinancing of $3.3bn Project Gazelle to Optimise Cost, Unlock Additional Liquidity.’According to Nkwocha, Council observed the significance of unlocking additional liquidity for the federation and pledged its support for the actualisation of the initiative.Briefing journalists after the meeting, Oyedele explained that the new arrangement had been structured on considerably more favourable terms than the original facility, including a substantial reduction in the volume of crude oil pledged to secure the loan.He explained, “The refinancing has been structured on more favourable terms than the original facility, including a reduction in the volume of pledged crude oil from 90,000 barrels of oil per day to approximately 78,750 barrels of oil per day, a 12.5 per cent reduction.”Oyedele said the reduction in pledged volume translated directly into more crude available for the federation to sell and retain revenue from outside the terms of the facility.“Under the new arrangement, an additional 11,250 barrels of oil per day for the federation will be released, while there will be a reduction in the pledged crude volumes by NNPC Limited,” he said.Related NewsMakinde knocks Tinubu’s economic reforms, rallies support for APM ahead 2027Soludo urges collaboration to attract investment, create jobsIt’s armed robbery, Frank Edoho decries soaring Lagos real estate pricesThe Minister described the refinancing as a dual achievement, improved liquidity access on better terms while simultaneously strengthening the country’s overall financing structure.He stated, “While accessing additional liquidity on improved terms, the arrangement is freeing up resources for strategic national priorities while strengthening the country’s financing structures.”In his opening remarks to Council, Vice President Shettima called for the design of a responsive, scalable and data-driven social protection policy to confront multidimensional poverty in Nigeria, framing the challenge in vivid and deeply human terms.He argued, “Government policies are often heard before they are seen they speak through the price of food, the condition of hospitals, the records in schools, the strain on families, the confidence of those who invest their labour in the nation’s future, and, very importantly, the ambitions of state governments.”The VP urged Council members to ensure that every decision reached at NEC left ordinary Nigerians with confidence that their government was attentive and responsive to their daily struggles.“Every decision we make must assure the citizens that their government is paying attention to the pulse of the nation and is resolved to respond with competence, compassion and purpose,” he said.Project Gazelle was originally structured in 2023 as a pre-export finance facility secured against future crude oil sales, designed to provide Nigeria with dollar liquidity to defend the naira and support foreign exchange market stability amid the sharp currency volatility that followed the administration’s unification of exchange rate windows.The refinancing under Project Gazelle 2 extends and restructures that facility on improved terms, reflecting both the larger size of the new facility and NNPC Limited’s improved negotiating position following three years of oil sector reforms aimed at attracting fresh investment from international oil companies and boosting domestic production capacity. Senior Special Assistant to the President on Media and Communications in the Office of the Vice President, Stanley Nkwocha, revealed details of the approval in a statement he signed Monday titled ‘NEC Approves Refinancing of $3.3bn Project Gazelle to Optimise Cost, Unlock Additional Liquidity.’According to Nkwocha, Council observed the significance of unlocking additional liquidity for the federation and pledged its support for the actualisation of the initiative.Briefing journalists after the meeting, Oyedele explained that the new arrangement had been structured on considerably more favourable terms than the original facility, including a substantial reduction in the volume of crude oil pledged to secure the loan.He explained, “The refinancing has been structured on more favourable terms than the original facility, including a reduction in the volume of pledged crude oil from 90,000 barrels of oil per day to approximately 78,750 barrels of oil per day, a 12.5 per cent reduction.”Oyedele said the reduction in pledged volume translated directly into more crude available for the federation to sell and retain revenue from outside the terms of the facility.“Under the new arrangement, an additional 11,250 barrels of oil per day for the federation will be released, while there will be a reduction in the pledged crude volumes by NNPC Limited,” he said.Related NewsMakinde knocks Tinubu’s economic reforms, rallies support for APM ahead 2027Soludo urges collaboration to attract investment, create jobsIt’s armed robbery, Frank Edoho decries soaring Lagos real estate pricesThe Minister described the refinancing as a dual achievement, improved liquidity access on better terms while simultaneously strengthening the country’s overall financing structure.He stated, “While accessing additional liquidity on improved terms, the arrangement is freeing up resources for strategic national priorities while strengthening the country’s financing structures.”In his opening remarks to Council, Vice President Shettima called for the design of a responsive, scalable and data-driven social protection policy to confront multidimensional poverty in Nigeria, framing the challenge in vivid and deeply human terms.He argued, “Government policies are often heard before they are seen they speak through the price of food, the condition of hospitals, the records in schools, the strain on families, the confidence of those who invest their labour in the nation’s future, and, very importantly, the ambitions of state governments.”The VP urged Council members to ensure that every decision reached at NEC left ordinary Nigerians with confidence that their government was attentive and responsive to their daily struggles.“Every decision we make must assure the citizens that their government is paying attention to the pulse of the nation and is resolved to respond with competence, compassion and purpose,” he said.Project Gazelle was originally structured in 2023 as a pre-export finance facility secured against future crude oil sales, designed to provide Nigeria with dollar liquidity to defend the naira and support foreign exchange market stability amid the sharp currency volatility that followed the administration’s unification of exchange rate windows.The refinancing under Project Gazelle 2 extends and restructures that facility on improved terms, reflecting both the larger size of the new facility and NNPC Limited’s improved negotiating position following three years of oil sector reforms aimed at attracting fresh investment from international oil companies and boosting domestic production capacity. According to Nkwocha, Council observed the significance of unlocking additional liquidity for the federation and pledged its support for the actualisation of the initiative.Briefing journalists after the meeting, Oyedele explained that the new arrangement had been structured on considerably more favourable terms than the original facility, including a substantial reduction in the volume of crude oil pledged to secure the loan.He explained, “The refinancing has been structured on more favourable terms than the original facility, including a reduction in the volume of pledged crude oil from 90,000 barrels of oil per day to approximately 78,750 barrels of oil per day, a 12.5 per cent reduction.”Oyedele said the reduction in pledged volume translated directly into more crude available for the federation to sell and retain revenue from outside the terms of the facility.“Under the new arrangement, an additional 11,250 barrels of oil per day for the federation will be released, while there will be a reduction in the pledged crude volumes by NNPC Limited,” he said.Related NewsMakinde knocks Tinubu’s economic reforms, rallies support for APM ahead 2027Soludo urges collaboration to attract investment, create jobsIt’s armed robbery, Frank Edoho decries soaring Lagos real estate pricesThe Minister described the refinancing as a dual achievement, improved liquidity access on better terms while simultaneously strengthening the country’s overall financing structure.He stated, “While accessing additional liquidity on improved terms, the arrangement is freeing up resources for strategic national priorities while strengthening the country’s financing structures.”In his opening remarks to Council, Vice President Shettima called for the design of a responsive, scalable and data-driven social protection policy to confront multidimensional poverty in Nigeria, framing the challenge in vivid and deeply human terms.He argued, “Government policies are often heard before they are seen they speak through the price of food, the condition of hospitals, the records in schools, the strain on families, the confidence of those who invest their labour in the nation’s future, and, very importantly, the ambitions of state governments.”The VP urged Council members to ensure that every decision reached at NEC left ordinary Nigerians with confidence that their government was attentive and responsive to their daily struggles.“Every decision we make must assure the citizens that their government is paying attention to the pulse of the nation and is resolved to respond with competence, compassion and purpose,” he said.Project Gazelle was originally structured in 2023 as a pre-export finance facility secured against future crude oil sales, designed to provide Nigeria with dollar liquidity to defend the naira and support foreign exchange market stability amid the sharp currency volatility that followed the administration’s unification of exchange rate windows.The refinancing under Project Gazelle 2 extends and restructures that facility on improved terms, reflecting both the larger size of the new facility and NNPC Limited’s improved negotiating position following three years of oil sector reforms aimed at attracting fresh investment from international oil companies and boosting domestic production capacity. Briefing journalists after the meeting, Oyedele explained that the new arrangement had been structured on considerably more favourable terms than the original facility, including a substantial reduction in the volume of crude oil pledged to secure the loan.He explained, “The refinancing has been structured on more favourable terms than the original facility, including a reduction in the volume of pledged crude oil from 90,000 barrels of oil per day to approximately 78,750 barrels of oil per day, a 12.5 per cent reduction.”Oyedele said the reduction in pledged volume translated directly into more crude available for the federation to sell and retain revenue from outside the terms of the facility.“Under the new arrangement, an additional 11,250 barrels of oil per day for the federation will be released, while there will be a reduction in the pledged crude volumes by NNPC Limited,” he said.Related NewsMakinde knocks Tinubu’s economic reforms, rallies support for APM ahead 2027Soludo urges collaboration to attract investment, create jobsIt’s armed robbery, Frank Edoho decries soaring Lagos real estate pricesThe Minister described the refinancing as a dual achievement, improved liquidity access on better terms while simultaneously strengthening the country’s overall financing structure.He stated, “While accessing additional liquidity on improved terms, the arrangement is freeing up resources for strategic national priorities while strengthening the country’s financing structures.”In his opening remarks to Council, Vice President Shettima called for the design of a responsive, scalable and data-driven social protection policy to confront multidimensional poverty in Nigeria, framing the challenge in vivid and deeply human terms.He argued, “Government policies are often heard before they are seen they speak through the price of food, the condition of hospitals, the records in schools, the strain on families, the confidence of those who invest their labour in the nation’s future, and, very importantly, the ambitions of state governments.”The VP urged Council members to ensure that every decision reached at NEC left ordinary Nigerians with confidence that their government was attentive and responsive to their daily struggles.“Every decision we make must assure the citizens that their government is paying attention to the pulse of the nation and is resolved to respond with competence, compassion and purpose,” he said.Project Gazelle was originally structured in 2023 as a pre-export finance facility secured against future crude oil sales, designed to provide Nigeria with dollar liquidity to defend the naira and support foreign exchange market stability amid the sharp currency volatility that followed the administration’s unification of exchange rate windows.The refinancing under Project Gazelle 2 extends and restructures that facility on improved terms, reflecting both the larger size of the new facility and NNPC Limited’s improved negotiating position following three years of oil sector reforms aimed at attracting fresh investment from international oil companies and boosting domestic production capacity. He explained, “The refinancing has been structured on more favourable terms than the original facility, including a reduction in the volume of pledged crude oil from 90,000 barrels of oil per day to approximately 78,750 barrels of oil per day, a 12.5 per cent reduction.”Oyedele said the reduction in pledged volume translated directly into more crude available for the federation to sell and retain revenue from outside the terms of the facility.“Under the new arrangement, an additional 11,250 barrels of oil per day for the federation will be released, while there will be a reduction in the pledged crude volumes by NNPC Limited,” he said.Related NewsMakinde knocks Tinubu’s economic reforms, rallies support for APM ahead 2027Soludo urges collaboration to attract investment, create jobsIt’s armed robbery, Frank Edoho decries soaring Lagos real estate pricesThe Minister described the refinancing as a dual achievement, improved liquidity access on better terms while simultaneously strengthening the country’s overall financing structure.He stated, “While accessing additional liquidity on improved terms, the arrangement is freeing up resources for strategic national priorities while strengthening the country’s financing structures.”In his opening remarks to Council, Vice President Shettima called for the design of a responsive, scalable and data-driven social protection policy to confront multidimensional poverty in Nigeria, framing the challenge in vivid and deeply human terms.He argued, “Government policies are often heard before they are seen they speak through the price of food, the condition of hospitals, the records in schools, the strain on families, the confidence of those who invest their labour in the nation’s future, and, very importantly, the ambitions of state governments.”The VP urged Council members to ensure that every decision reached at NEC left ordinary Nigerians with confidence that their government was attentive and responsive to their daily struggles.“Every decision we make must assure the citizens that their government is paying attention to the pulse of the nation and is resolved to respond with competence, compassion and purpose,” he said.Project Gazelle was originally structured in 2023 as a pre-export finance facility secured against future crude oil sales, designed to provide Nigeria with dollar liquidity to defend the naira and support foreign exchange market stability amid the sharp currency volatility that followed the administration’s unification of exchange rate windows.The refinancing under Project Gazelle 2 extends and restructures that facility on improved terms, reflecting both the larger size of the new facility and NNPC Limited’s improved negotiating position following three years of oil sector reforms aimed at attracting fresh investment from international oil companies and boosting domestic production capacity. Oyedele said the reduction in pledged volume translated directly into more crude available for the federation to sell and retain revenue from outside the terms of the facility.“Under the new arrangement, an additional 11,250 barrels of oil per day for the federation will be released, while there will be a reduction in the pledged crude volumes by NNPC Limited,” he said.Related NewsMakinde knocks Tinubu’s economic reforms, rallies support for APM ahead 2027Soludo urges collaboration to attract investment, create jobsIt’s armed robbery, Frank Edoho decries soaring Lagos real estate pricesThe Minister described the refinancing as a dual achievement, improved liquidity access on better terms while simultaneously strengthening the country’s overall financing structure.He stated, “While accessing additional liquidity on improved terms, the arrangement is freeing up resources for strategic national priorities while strengthening the country’s financing structures.”In his opening remarks to Council, Vice President Shettima called for the design of a responsive, scalable and data-driven social protection policy to confront multidimensional poverty in Nigeria, framing the challenge in vivid and deeply human terms.He argued, “Government policies are often heard before they are seen they speak through the price of food, the condition of hospitals, the records in schools, the strain on families, the confidence of those who invest their labour in the nation’s future, and, very importantly, the ambitions of state governments.”The VP urged Council members to ensure that every decision reached at NEC left ordinary Nigerians with confidence that their government was attentive and responsive to their daily struggles.“Every decision we make must assure the citizens that their government is paying attention to the pulse of the nation and is resolved to respond with competence, compassion and purpose,” he said.Project Gazelle was originally structured in 2023 as a pre-export finance facility secured against future crude oil sales, designed to provide Nigeria with dollar liquidity to defend the naira and support foreign exchange market stability amid the sharp currency volatility that followed the administration’s unification of exchange rate windows.The refinancing under Project Gazelle 2 extends and restructures that facility on improved terms, reflecting both the larger size of the new facility and NNPC Limited’s improved negotiating position following three years of oil sector reforms aimed at attracting fresh investment from international oil companies and boosting domestic production capacity. “Under the new arrangement, an additional 11,250 barrels of oil per day for the federation will be released, while there will be a reduction in the pledged crude volumes by NNPC Limited,” he said.Related NewsMakinde knocks Tinubu’s economic reforms, rallies support for APM ahead 2027Soludo urges collaboration to attract investment, create jobsIt’s armed robbery, Frank Edoho decries soaring Lagos real estate pricesThe Minister described the refinancing as a dual achievement, improved liquidity access on better terms while simultaneously strengthening the country’s overall financing structure.He stated, “While accessing additional liquidity on improved terms, the arrangement is freeing up resources for strategic national priorities while strengthening the country’s financing structures.”In his opening remarks to Council, Vice President Shettima called for the design of a responsive, scalable and data-driven social protection policy to confront multidimensional poverty in Nigeria, framing the challenge in vivid and deeply human terms.He argued, “Government policies are often heard before they are seen they speak through the price of food, the condition of hospitals, the records in schools, the strain on families, the confidence of those who invest their labour in the nation’s future, and, very importantly, the ambitions of state governments.”The VP urged Council members to ensure that every decision reached at NEC left ordinary Nigerians with confidence that their government was attentive and responsive to their daily struggles.“Every decision we make must assure the citizens that their government is paying attention to the pulse of the nation and is resolved to respond with competence, compassion and purpose,” he said.Project Gazelle was originally structured in 2023 as a pre-export finance facility secured against future crude oil sales, designed to provide Nigeria with dollar liquidity to defend the naira and support foreign exchange market stability amid the sharp currency volatility that followed the administration’s unification of exchange rate windows.The refinancing under Project Gazelle 2 extends and restructures that facility on improved terms, reflecting both the larger size of the new facility and NNPC Limited’s improved negotiating position following three years of oil sector reforms aimed at attracting fresh investment from international oil companies and boosting domestic production capacity. The Minister described the refinancing as a dual achievement, improved liquidity access on better terms while simultaneously strengthening the country’s overall financing structure.He stated, “While accessing additional liquidity on improved terms, the arrangement is freeing up resources for strategic national priorities while strengthening the country’s financing structures.”In his opening remarks to Council, Vice President Shettima called for the design of a responsive, scalable and data-driven social protection policy to confront multidimensional poverty in Nigeria, framing the challenge in vivid and deeply human terms.He argued, “Government policies are often heard before they are seen they speak through the price of food, the condition of hospitals, the records in schools, the strain on families, the confidence of those who invest their labour in the nation’s future, and, very importantly, the ambitions of state governments.”The VP urged Council members to ensure that every decision reached at NEC left ordinary Nigerians with confidence that their government was attentive and responsive to their daily struggles.“Every decision we make must assure the citizens that their government is paying attention to the pulse of the nation and is resolved to respond with competence, compassion and purpose,” he said.Project Gazelle was originally structured in 2023 as a pre-export finance facility secured against future crude oil sales, designed to provide Nigeria with dollar liquidity to defend the naira and support foreign exchange market stability amid the sharp currency volatility that followed the administration’s unification of exchange rate windows.The refinancing under Project Gazelle 2 extends and restructures that facility on improved terms, reflecting both the larger size of the new facility and NNPC Limited’s improved negotiating position following three years of oil sector reforms aimed at attracting fresh investment from international oil companies and boosting domestic production capacity. He stated, “While accessing additional liquidity on improved terms, the arrangement is freeing up resources for strategic national priorities while strengthening the country’s financing structures.”In his opening remarks to Council, Vice President Shettima called for the design of a responsive, scalable and data-driven social protection policy to confront multidimensional poverty in Nigeria, framing the challenge in vivid and deeply human terms.He argued, “Government policies are often heard before they are seen they speak through the price of food, the condition of hospitals, the records in schools, the strain on families, the confidence of those who invest their labour in the nation’s future, and, very importantly, the ambitions of state governments.”The VP urged Council members to ensure that every decision reached at NEC left ordinary Nigerians with confidence that their government was attentive and responsive to their daily struggles.“Every decision we make must assure the citizens that their government is paying attention to the pulse of the nation and is resolved to respond with competence, compassion and purpose,” he said.Project Gazelle was originally structured in 2023 as a pre-export finance facility secured against future crude oil sales, designed to provide Nigeria with dollar liquidity to defend the naira and support foreign exchange market stability amid the sharp currency volatility that followed the administration’s unification of exchange rate windows.The refinancing under Project Gazelle 2 extends and restructures that facility on improved terms, reflecting both the larger size of the new facility and NNPC Limited’s improved negotiating position following three years of oil sector reforms aimed at attracting fresh investment from international oil companies and boosting domestic production capacity. In his opening remarks to Council, Vice President Shettima called for the design of a responsive, scalable and data-driven social protection policy to confront multidimensional poverty in Nigeria, framing the challenge in vivid and deeply human terms.He argued, “Government policies are often heard before they are seen they speak through the price of food, the condition of hospitals, the records in schools, the strain on families, the confidence of those who invest their labour in the nation’s future, and, very importantly, the ambitions of state governments.”The VP urged Council members to ensure that every decision reached at NEC left ordinary Nigerians with confidence that their government was attentive and responsive to their daily struggles.“Every decision we make must assure the citizens that their government is paying attention to the pulse of the nation and is resolved to respond with competence, compassion and purpose,” he said.Project Gazelle was originally structured in 2023 as a pre-export finance facility secured against future crude oil sales, designed to provide Nigeria with dollar liquidity to defend the naira and support foreign exchange market stability amid the sharp currency volatility that followed the administration’s unification of exchange rate windows.The refinancing under Project Gazelle 2 extends and restructures that facility on improved terms, reflecting both the larger size of the new facility and NNPC Limited’s improved negotiating position following three years of oil sector reforms aimed at attracting fresh investment from international oil companies and boosting domestic production capacity. He argued, “Government policies are often heard before they are seen they speak through the price of food, the condition of hospitals, the records in schools, the strain on families, the confidence of those who invest their labour in the nation’s future, and, very importantly, the ambitions of state governments.”The VP urged Council members to ensure that every decision reached at NEC left ordinary Nigerians with confidence that their government was attentive and responsive to their daily struggles.“Every decision we make must assure the citizens that their government is paying attention to the pulse of the nation and is resolved to respond with competence, compassion and purpose,” he said.Project Gazelle was originally structured in 2023 as a pre-export finance facility secured against future crude oil sales, designed to provide Nigeria with dollar liquidity to defend the naira and support foreign exchange market stability amid the sharp currency volatility that followed the administration’s unification of exchange rate windows.The refinancing under Project Gazelle 2 extends and restructures that facility on improved terms, reflecting both the larger size of the new facility and NNPC Limited’s improved negotiating position following three years of oil sector reforms aimed at attracting fresh investment from international oil companies and boosting domestic production capacity. The VP urged Council members to ensure that every decision reached at NEC left ordinary Nigerians with confidence that their government was attentive and responsive to their daily struggles.“Every decision we make must assure the citizens that their government is paying attention to the pulse of the nation and is resolved to respond with competence, compassion and purpose,” he said.Project Gazelle was originally structured in 2023 as a pre-export finance facility secured against future crude oil sales, designed to provide Nigeria with dollar liquidity to defend the naira and support foreign exchange market stability amid the sharp currency volatility that followed the administration’s unification of exchange rate windows.The refinancing under Project Gazelle 2 extends and restructures that facility on improved terms, reflecting both the larger size of the new facility and NNPC Limited’s improved negotiating position following three years of oil sector reforms aimed at attracting fresh investment from international oil companies and boosting domestic production capacity. “Every decision we make must assure the citizens that their government is paying attention to the pulse of the nation and is resolved to respond with competence, compassion and purpose,” he said.Project Gazelle was originally structured in 2023 as a pre-export finance facility secured against future crude oil sales, designed to provide Nigeria with dollar liquidity to defend the naira and support foreign exchange market stability amid the sharp currency volatility that followed the administration’s unification of exchange rate windows.The refinancing under Project Gazelle 2 extends and restructures that facility on improved terms, reflecting both the larger size of the new facility and NNPC Limited’s improved negotiating position following three years of oil sector reforms aimed at attracting fresh investment from international oil companies and boosting domestic production capacity. Project Gazelle was originally structured in 2023 as a pre-export finance facility secured against future crude oil sales, designed to provide Nigeria with dollar liquidity to defend the naira and support foreign exchange market stability amid the sharp currency volatility that followed the administration’s unification of exchange rate windows.The refinancing under Project Gazelle 2 extends and restructures that facility on improved terms, reflecting both the larger size of the new facility and NNPC Limited’s improved negotiating position following three years of oil sector reforms aimed at attracting fresh investment from international oil companies and boosting domestic production capacity. The refinancing under Project Gazelle 2 extends and restructures that facility on improved terms, reflecting both the larger size of the new facility and NNPC Limited’s improved negotiating position following three years of oil sector reforms aimed at attracting fresh investment from international oil companies and boosting domestic production capacity.