The Nigerian National Petroleum Company (NNPC) Limited has announced that it is in the final stage of getting listed in the capital market, in accordance with the provisions of the Petroleum Industry Act (PIA) of 2021.
Olugbenga Oluwaniyi, the Chief Finance and Investor Relations Officer (CFIO) of NNPC Limited, revealed this at a consultative meeting with partners at the NNPC Towers in Abuja.
He stated that the company is currently engaging with prospective partners in an exercise called the “NNPC Ltd. IPO Beauty Parade”, which aims to access potential partners and determine how they can support the company.
The areas of partnership required include investor relations, IPO readiness advisers, and investment bank partners. The company with the best offer in each of the three categories will be selected.
The listing of NNPC Limited on the capital market is expected to provide the company with access to new funding opportunities, improve transparency and accountability, and deepen the Nigerian capital market.