March 30, (THEWILL) — The Nigerian National Petroleum Company Limited (NNPC Ltd) has unveiled plans to list the national oil company on major international stock exchanges as part of reforms aimed at transforming it into a globally competitive energy firm.
The disclosure was made by the Group Chief Executive Officer, Bayo Ojulari, while speaking at the recently concluded CERAWeek by S&P Global conference in Houston, Texas.
Ojulari said the company is laying the groundwork for an Initial Public Offering (IPO), with potential listings in key financial centres such as New York City and London under consideration.
He noted that the national oil firm is prioritising structural and operational readiness before moving ahead with the listing, focusing on governance reforms, transparency, and improved operational performance to attract global investors.
“Our strategy is not just about listing, but about building the right fundamentals — transparency, cost efficiency, and world-class project delivery — that will make NNPC a company investors are eager to back,” Ojulari said.
According to him, the planned IPO is a key element of NNPC’s broader transformation agenda, which seeks to reposition the company as a commercially driven enterprise capable of competing with major international energy firms.
The move aligns with ongoing reforms under the Petroleum Industry Act, which converted the former state-run corporation into a limited liability company and opened the door for future private investment and public market participation.
If completed, the listing would mark a significant milestone in Nigeria’s energy sector, potentially attracting foreign capital and enhancing transparency within the country’s oil and gas industry.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
