Port Harcourt - The Nigerian Liquefied Natural Gas (NLNG) and five reputable financial organisations on Thursday signed a Memorandum of Understanding (MoU) to make available $1billion support fund for contractors and vendors handling projects for NLNG.
The five banks, which are to set aside $200 million each to fund the contractors, are Access Bank, First Bank, Standard Chartered Bank, United Bank of Africa and Zenith Bank, reports PM News.
Babs Omotowa, Managing Director of NLNG, said that the credit would enable NLNG registered contractors and vendors to speed up delivery of goods and services to the nation’s oil and gas industry.
He said NLNG embarked on the programme to sustain the growth of indigenous enterprise in the country.
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