NNPC Nears IPO Listing, Engages Partners for Final Preparations
Samuel Mobolaji
The Nigerian National Petroleum Company Limited (NNPC Ltd) is in the final stages of its Initial Public Offering (IPO) as it moves towards listing on the capital market in compliance with the Petroleum Industry Act (PIA) 2021.
Olugbenga Oluwaniyi, Chief Finance and Investor Relations Officer, revealed this during a consultative meeting with partners at the NNPC Towers in Abuja on Thursday. He stated that the company has begun an “IPO Beauty Parade,” a strategic engagement with potential partners to ensure regulatory compliance and optimise its public listing process.
“The Nigerian National Petroleum Company Limited (NNPC Ltd) is at the final stage of getting listed in the capital market, in keeping with the provisions of the Petroleum Industry Act (PIA) 2021,” Oluwaniyi stated.
The IPO will allow institutional investors to acquire shares in NNPC Ltd for the first time, marking a significant step towards its transition into a fully commercial entity. The company seeks key partners in Investor Relations, IPO Readiness Advisory, and Investment Banking to support its listing process.
Under the PIA 2021, NNPC Ltd is required to operate as a commercially viable company, complying with the Company and Allied Matters Act (CAMA) 1990 to enhance transparency, efficiency, and profitability.
This move signals a major transformation in Nigeria’s oil and gas industry, positioning NNPC Ltd to attract private sector investment, improve corporate governance, and enhance operational efficiency.
As the IPO Beauty Parade progresses, the company aims to secure the best strategic partners to ensure a successful listing, marking a historic milestone in the Nigerian petroleum sector.
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