Nigeria NNPC In Talks to Secure $2 Billion for Pipeline Upgrade

The Nigerian National Petroleum Co. is discussing $2 billion in financing from Nexus Alliance, a company that supports pipeline infrastructure, according to people with knowledge of the matter.

The state-owned oil producer expects to receive the funds early next year and will use the money to repair and upgrade pipelines damaged by theft and vandalism while reducing leaks, said the people who asked not to be identified discussing private matters.