Nigeria’s NNPC is negotiating another oil-backed loan to strengthen its finances and enable further investment, according to its chief executive, Mele Kyari. NNPC is negotiating another oil-backed loan to strengthen its finances and enable further investmentThe company plans to raise at least $2 billion to support its business activities and boost production growthRising fuel subsidy costs have worsened NNPC’s cash flow issues, prompting the need for the new loanWith increasing pressure on the state-backed oil company, the Nigerian National Petroleum Corporation (NNPC) plans to raise at least …