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NNPCL plans to sell shares to public, Nears Capital Market Listing
The Nigerian National Petroleum Company Limited (NNPCL) is planning to sell shares to the public, marking a significant milestone in its journey to becoming a publicly listed company. This move is expected to allow Nigerians to invest in the national oil company and share in its profits. Additionally, the government may benefit from increased taxes, dividends, and royalties.
The NNPCL announced its plans in a statement on March 27, 2025, signed by its Chief Corporate Communications Officer, Olufemi Soneye. According to Soneye, the company is in the final stages of getting listed on the capital market, in line with the provisions of the Petroleum Industry Act (PIA) 2021.
As part of this process, the NNPCL is conducting an “IPO Beauty Parade” to select partners for its Initial Public Offering (IPO). This involves evaluating potential partners for investor relations, IPO readiness, and investment banking services. The company aims to select the best partners for each category to ensure a successful IPO.
