The National Economic Council (NEC) has approved the refinancing of the US$3.3 billion Project Gazelle Pre-Export Finance Facility through a new US$4.5 billion facility, known as Project Gazelle 2. The meeting was presided over by Vice President Kashim Shettima, who chairs the Council. NEC’s approval followed a presentation by the Minister of Finance, Dr Taiwo Oyedele, delivered on his behalf by Vice President Shettima, highlighting the strategic importance of the project. According to the minister, the refinancing will provide additional liquidity on improved terms, free up resources for strategic national priorities, and strengthen the country’s financing structure. Earlier in his opening remarks, Vice President Shettima called for a responsive, scalable and data-driven social protection policy to tackle multidimensional poverty in Nigeria.