The Nigerian National Petroleum Company (NNPC) Limited is fast-tracking efforts towards its much-anticipated Initial Public Offering (IPO).
The state oil company through strategic investments in infrastructure, governance reforms, and operational efficiency, is positioning the company for the landmark listing on the stock exchange expected before the year ends.
According to the chief executive of the NNPC, Mr Bayo Ojulari, the process, under its Fit for the Future strategy, aims for global competitiveness, public listing, and a pivotal role in connecting Africa to international markets through extensive gas infrastructure development initiatives.
Speaking during a dialogue at the 2025 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), he emphasised the organisation’s commitment to transparency, efficiency, and investor readiness.
Mr Ojulari said NNPC Limited was steadily preparing for its IPO under the Petroleum Industry Act (PIA 2021) by improving governance, operational transparency, and accountability to meet international investment standards and expectations.
“Our IPO journey is mandated by law. We are publishing monthly performance reports and embedding global best practices to make NNPC a high-performing, investor-ready company with enhanced transparency.
“The Fit for the Future project focuses on market leadership, building the necessary structures for IPO readiness, increasing investor attractiveness, and strengthening the company’s long-term competitiveness and operational capacity,” he said.
The NNPC boss highlighted the transformation programme’s five core workstreams: production growth, gas monetisation, downstream optimisation, market leadership, and talent development, forming the backbone of NNPC’s strategy to become globally competitive.
Mr Ojulari said the initiative was also reshaping NNPC’s workforce through innovation, digitalisation, and international exposure, enhancing staff capabilities via the Talent Valley programme and secondments with global partners.
On gas development, he noted targets of 10 billion cubic feet per day by 2027 and 12 billion cubic feet by 2030, achievable through partnerships, operational efficiency, and access to broader investment capital, adding that production recovery had been boosted by collaboration with international and indigenous operators, along with fiscal incentives under the PIA 2021, contributing to growth in oil output and investment confidence.
The energy expert also said Nigeria’s reserves, exceeding 600 trillion cubic feet equivalent, positioned the country for full industrialisation and regional economic leadership, underscoring NNPC’s strategic focus on natural gas development.
He said NNPC was leading the Nigeria–Morocco Gas Pipeline Project, connecting West African economies and Europe, allowing countries along the corridor to both consume and supply gas, boosting trade and energy integration.
“The pipeline aligns with our vision to make Africa a major global gas player while promoting economic integration, industrialisation, and sustainable development across participating nations,” Mr Ojulari said.