Dangote Refinery alters lending dynamics Ayodele Aminu and Adeola Yusuf
B
anks and other lenders have elevated their fears on bad loans
for downstream oil sector a step further, slamming an embargo on any form of lending to oil moguls or oil firms which use their tank
farms as collateral. New Telegraph gathered that the lenders will also not venture into any investment for building,
maintenance or storage of imported refined petroleum products with repayment lifespan stretching beyond the first quarter
Lagos targets N1trn budget, N50bn monthly IGR }38
of 2019 when the Dangote’s $12 billion refinery is expected to come on stream. A banking source told this newspaper that this caveat issued by the banks
Dangote
CONTINUED ON PAGE 2
Sanctity Of Truth
NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS
Militants abduct RCCG pastor during workers' meeting }9
/newtelegraph /newtelegraph
Vol. 3 No. 887
Monday, July 25, 2016
Adeboye
Dogara, cabal injected N280bn projects in }3 budget – Jibrin
Dogara
Akarigbo, Oba Sonariwo, dies at 80 in London }8
Akarigbo
@newtelegraph1 www.newtelegraphonline.com @newtelegraph1 www.newtelegraphonline.com
Pastor Taiwo
I chained my nine-year-old son because he’s possessed –Pastor }8
N150
Korede
Kerosene hits all-time high
…as 30m households lament
Nigerians turn to firewood, charcoal, sawdust Marketers halt product's importation }2
L-R: President, Chartered Institute of Bankers of Nigeria (CIBN), Prof. Segun Ajibola; outgoing Group Managing Director/ CEO, UBA Plc., Mr. Phillips Oduoza; his wife, Jumai; Founder, Diamond Bank Plc., Mr. Pascal Dozie and Group Managing Director Designate, UBA Plc., Mr. Kennedy Uzoka, at the 4th Valedictory Lecture in honour of Oduoza, organised by CIBN in Lagos... on Friday
Bode George, Secondus, Dokpesi battle for PDP chair ...Adeniran, Daniel too lINEC declares Imo rerun inconclusive }3 & 40 Artificial sweeteners raise appetite by 30% }37