Nigeria’s state-owned oil company, the Nigerian National Petroleum Company (NNPC), is considering securing a new $2 billion loan using crude oil pre-payments as collateral, according to findings by BusinessDay. Mele Kyari the group general manager said the company wanted a loan against 30,000-35,000 barrels per day of crude production, but declined to say how much money it sought.

He said the cash raised would be used for all of the NNPC’s business activities, including supporting production growth. “We have no problem covering our gasoline payments. This is just money for normal business and not a desperate act,” Kyari told Reuters.