London, New York: NNPC Unveils Exchanges Nigerians Can Buy Its Shares
- NNPC plans historic public listing on major global exchanges to boost transparency and investor confidence
- Renewed investment interest signals improvement in Nigeria's oil sector, with a focus on the Bonga Southwest project
- NNPC targets ambitious oil and gas growth, aiming for two million barrels per day by 2030
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Nigeria’s national oil company, NNPC Limited, is moving closer to a historic public listing, with plans to offer shares to investors on major global exchanges.
The Group Chief Executive Officer, Bayo Ojulari, revealed that the company is considering listings on top financial markets such as the New York Stock Exchange and the London Stock Exchange.
Source: UGC
The announcement was made during discussions at the globally recognised CERAWeek by S&P Global in Houston, signalling a major step in NNPC’s transformation into a commercially driven energy company.
IPO plans focus on readiness, not speed
Ojulari made it clear that while the listing is a priority, the company will not rush into it. Instead, NNPC is concentrating on building a solid foundation that will attract both local and international investors.
He stressed that transparency, operational efficiency and strong corporate governance are critical pillars of the strategy. According to him, the goal is to create a company that investors trust and are eager to invest in, rather than simply rushing to the stock market.
This careful approach reflects a broader ambition to position NNPC as a globally competitive energy player rather than just a state-owned enterprise.
$20 billion project signals rising investor confidence
One of the strongest indicators of renewed confidence in NNPC is the $20 billion Bonga Southwest deepwater project. The development, long delayed by regulatory and investment challenges, is now moving forward.
Ojulari credited government-backed incentives and reforms for unlocking the project, noting that long-standing disputes that discouraged investment for nearly two decades have now been resolved.
The renewed interest from international oil companies in Nigeria’s deepwater assets suggests that global sentiment toward the country’s oil sector is improving.
Ambitious oil and gas growth targets
NNPC’s transformation is anchored on aggressive production goals. The company is targeting oil output of two million barrels per day in the near term, with plans to scale up to three million barrels per day by 2030.
Gas production is also a major focus. With expanded infrastructure, NNPC aims to connect key regions across Nigeria, boosting industrialisation, improving power supply and supporting job creation.
This dual focus on oil and gas reflects Nigeria’s strategy to maximise its energy resources while supporting broader economic growth.
Push to become Africa’s energy hub
Beyond upstream operations, NNPC is repositioning itself in the downstream sector. The company aims to turn Nigeria into a major refining and petroleum distribution hub for sub-Saharan Africa.
According to a report by Daily Sun, investments in refining capacity, alongside expanded distribution of compressed natural gas (CNG) and liquefied petroleum gas (LPG), are central to this plan.
These efforts are expected to strengthen domestic supply chains and reduce reliance on imports.
Internal reforms driving IPO readiness
NNPC is also restructuring internally to meet the demands of a publicly listed company. This includes reviewing its asset portfolio, exiting underperforming ventures and focusing on profitable projects.
The company is investing heavily in workforce development, forming global partnerships and preparing staff for emerging technologies like artificial intelligence.
Ojulari noted that the separation of regulatory functions under the Petroleum Industry Act has created a more transparent operating environment, improving investor trust.
What this means for Nigerians
If successfully listed, NNPC’s IPO could open the door for Nigerians to own shares in the country’s most strategic energy company.
Source: Twitter
With potential listings in global financial centres, the move signals a shift toward broader participation, increased transparency and stronger global integration.
For many Nigerians, the question is no longer if NNPC will go public, but when—and how they can be part of it.
Dangote tells Nigerians to prepare to buy refinery shares
Legit.ng earlier reported that the chairman of the Dangote Group, Aliko Dangote, has announced that Nigerians will soon be able to invest directly in the Dangote Refinery, while urging the federal government to support local manufacturing to strengthen the naira.
Dangote announced the investment while hosting the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Bayo Ojulari, and other board and executive members on a tour of the refinery.
Punch reports that NNPC currently holds a minority stake in the refinery on behalf of Nigerians.
Source: Legit.ng
