As part of its objective, the Nigerian oil company Oando benefits from a new financial lever structured with the African Export-Import Bank (Afreximbank). The institution increased its ceiling that can be mobilized under an existing loan backed by its oil reserves to 375 million USD

In 2023, Oando planned to acquire the portfolio of oil and gas assets previously owned by the Italian multinational Eni in Nigeria. The company is making progress toward meeting its goal of 100,000 barrels of oil and 1.5 billion cubic feet of gas produced per day by 2029. In reality, it had already obtained 800 million USD from Afreximbank to finance the operation. In this context, it now benefits from new structured financial leverage, with the African Export-Import Bank (Afreximbank), which has increased its ceiling that can be mobilized under an existing loan backed by its oil reserves to 375 million USD

This financing will allow it to intensify its drilling campaigns, modernize its infrastructures and optimize its operations. According to the company's projections, the assets involved could generate over $11 billion in net cash flow. This operation illustrates Afreximbank's strategy of supporting African oil projects considered strategic, in a context where international financing for hydrocarbons is tending