NNPCL Prepares for IPO Listing, Seeks Investment Partners

The Nigerian National Petroleum Company Limited (NNPCL) has announced that it is in the final stages of preparations to list its shares on the capital market, as required by the Petroleum Industry Act (PIA) 2021.

In a statement released on Thursday in Abuja, NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, disclosed that the company is actively engaging with prospective investors ahead of its Initial Public Offering (IPO).

According to the company’s Chief Finance and Investor Relations Officer, Olugbenga Oluwaniyi, the engagement process—dubbed the “NNPCL IPO Beauty Parade”—aims to evaluate potential partners and assess their ability to support the company’s listing efforts.

“The goal of the IPO Beauty Parade is to identify and select the best partners for investor relations, IPO readiness advisory, and investment banking services,” the statement read.

The PIA mandates that NNPCL list its shares in compliance with the Companies and Allied Matters Act 1990, allowing public participation in the company’s ownership.

An IPO is a public offering where shares of a company are sold to institutional investors, paving the way for broader public ownership.