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Abuja – The Nigerian National Petroleum Company Limited (NNPCL) prepares for its IPO. This action follows the Petroleum Industry Act 2021 mandate. Olufemi Soneye, NNPCL’s communications officer, confirmed the company is preparing.
NNPCL held a consultative meeting with partners at its headquarters. Olugbenga Oluwaniyi, Chief Finance Officer, shared updates on the IPO process during the meeting.
Partner Search Underway
NNPCL launched an “NNPC Ltd. IPO Beauty Parade” exercise. This process helps identify potential partners. Oluwaniyi stated the goal is finding partners. The company will assess how partners can provide support. NNPCL seeks partners in three areas: Investor Relations, IPO Readiness Advice, and Investment Banking.
Commercialization Goals
They support NNPCL’s shift to a commercial entity. Listing shares on the capital market aims to attract private investment. This step should improve the company’s financial performance. They contributes to the growth of Nigeria’s capital market.
