WATCH THE VIDEO HERE The Nigerian National Petroleum Company Limited (NNPC Ltd) is in the final stages of listing on the capital market as it prepares for an Initial Public Offering (IPO), in line with the Petroleum Industry Act (PIA) 2021. Olugbenga Oluwaniyi, the company’s Chief Finance and Investor Relations Officer, disclosed this during a consultative meeting with partners at the NNPC Towers in Abuja on Thursday. He revealed that NNPC Ltd has commenced an “IPO Beauty Parade”, a strategic engagement with prospective partners to ensure compliance with capital market regulations ahead of its planned listing. According to Oluwaniyi, the exercise aims to assess potential partners in key areas such as Investor Relations, IPO Readiness Advisory, and Investment Banking. He added that the company will select partners with the most competitive offers in each category. An IPO would allow NNPC Ltd to sell shares to institutional investors, aligning with the PIA’s mandate for the national oil company to operate as a commercial entity under the Companies and Allied Matters Act (CAMA) 1990. The planned IPO marks a major milestone in NNPC Ltd’s transformation, positioning it for broader private-sector participation and increased transparency in the capital market.
Breaking: NNPCL says Initial Public Offer at final stage
