Mele Kyari, the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Corporation (NNPC)

The Nigerian National Petroleum Company Limited has revealed that it is now in the final stages of preparing for its highly anticipated listing on the capital market under the provisions of the Petroleum Industry Act 2021.

The Nigerian National Petroleum Company Limited (NNPCL) has announced that it is in the final stages of preparing for its highly anticipated listing on the capital market, as outlined in the Petroleum Industry Act of 2021. Olufemi Soneye, the Chief Corporate Communications Officer of NNPC Ltd., made this announcement in a statement released on Thursday in Abuja. He noted that the company’s Chief Finance and Investor Relations Officer,

Mr. Olugbenga Oluwaniyi shared details of the development during a consultative meeting with partners at the NNPC headquarters. Soneye explained that NNPC Ltd. is currently engaging with prospective partners in an initiative called the “NNPC Ltd. IPO Beauty Parade.” This exercise is via capital market regulations and is a preparatory step before the commencement of the Initial Public Offering (IPO).

“The goal of the IPO Beauty Parade,” according to the CFIO, “is to assess potential partners and determine how they can support the company.”

He specified that the company has partnerships in several areas, including investor relations, IPO readiness advisors, and investment bank partners. The company with the most advantageous offer in these three categories will be selected for partnership. The Petroleum Industry Act (PIA) allows NNPC Ltd. to list its shares on the capital market, following provisions of the Companies and Allied Matters Act of 1990.