WATCH THE VIDEO HERE The Nigerian National Petroleum Company Limited (NNPCL) is at the final stage of the long-anticipated initial public offerings (IPO), as mandated by the Petroleum Industry Act of 2021. A statement by the Africa Energy Chamber on Tuesday said NNPCL and other African national oil giants, such as Angola, in a bid to bolster investment and competitiveness within Africa’s oil and gas sector, are progressing with their respective IPOs. The IPOs are poised to attract significant global investment, providing much-needed capital to enhance production capabilities, improve infrastructure and foster long-term growth. It said, “The move reflects a broader trend of African nations seeking to modernise and diversify their energy sectors, signalling a shift toward greater transparency and accountability in state-owned enterprises, while also positioning the continent as a more attractive investment destination in the global energy market.” Chief Finance and Investor Relations Officer, NNPCL, Olugbenga Oluwaniyi, stated that the company is engaging with prospective investor relations executives and investment banks to facilitate the process.
NNPCL, Angola advance IPOs, plan to attract investments
