The Nigerian National Petroleum Company Limited (NNPC Ltd) is making significant strides towards securing a listing on the capital market, in compliance with the Petroleum Industry Act (PIA) 2021. This exciting development was disclosed by the company’s Chief Finance and Investor Relations Officer (CFIO), Olugbenga Oluwaniyi, during a recent meeting with potential partners at the NNPC Towers in Abuja.
Oluwaniyi revealed that NNPC Ltd is currently in the process of engaging with prospective partners through an initiative called the “NNPC Ltd. IPO Beauty Parade.” This initiative, which aligns with capital market regulations, serves as a preparatory step for the company’s upcoming Initial Public Offering (IPO).
“The aim of the IPO Beauty Parade is to assess potential partners and determine how they can support NNPC Ltd in the IPO process,” Oluwaniyi explained. He outlined three key partnership areas crucial for the IPO process, including investor relations, IPO readiness advisors, and investment bank partners.
NNPC Ltd is keen on selecting companies that offer the most competitive proposals in these categories to facilitate its transition into a publicly traded entity. The PIA mandates that NNPC Ltd list its shares in the capital market in accordance with the Company and Allied Matters Act (CAMA) 1990.
As NNPC Ltd edges closer to its IPO, industry stakeholders are closely monitoring developments, eager to see the impact of the company’s listing on Nigeria’s capital market and the broader energy sector. Stay tuned for more updates as NNPC Ltd progresses towards this significant milestone.
