Shell, UBA Sign $200 Million Nigerian Contractor Support Deal
- Plan will help local Shell vendors, suppliers access finance
- Shell’s Nigerian contractor support fund holds $2.4 billion
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Royal Dutch Shell Plc’s Nigerian unit agreed a $200 million deal with United Bank for Africa Plc to help its local vendors and suppliers access project finance.
This latest deal brings Shell’s Nigerian contractor support fund to $2.4 billion. The fund can be accessed by contractors who have a valid purchase order and meet the bank’s risk assessment criteria, Shell said.