he Nigerian National Petroleum Company Limited (NNPC Ltd) is poised to make history as it enters the final stages of its Initial Public Offer (IPO).
The NNPC Ltd has launched an innovative “IPO Beauty Parade” to select key partners for its groundbreaking public listing.
Mr. Olugbenga Oluwaniyi, the company’s Chief Finance and Investor Relations Officer, revealed the ambitious plans during a high-stakes consultative meeting at the NNPC Towers in Abuja on Thursday.
The initiative comes directly in line with the progressive provisions of the Petroleum Industry Act (PIA) 2021.
“We are meticulously preparing to engage with the most qualified partners across three critical areas,” Oluwaniyi explained.
The company is seeking top-tier expertise in Investor Relations, IPO Readiness Advisers, and Investment Banking partnerships.
The selection process is rigorous. NNPC Ltd will choose the most compelling offer in each category, ensuring only the most competitive and strategic partners join this landmark journey.
This IPO is a step towards Nigeria’s evolving energy landscape, transforming a state-owned enterprise into a globally competitive and market-responsive organization.
Under the Petroleum Industry Act, NNPC Ltd is mandated to list its shares in the capital market, aligning with the Company and Allied Matters Act (CAMA) 1990. The move promises to unlock new levels of corporate governance and market valuation for the national oil company.