By Bashir Aliyu
Abuja, March 28, 2027 – The Nigerian National Petroleum Company Limited (NNPC Ltd) is in the final stages of preparations for its historic listing on the Nigerian Exchange, in compliance with the Petroleum Industry Act (PIA) 2021, company officials announced Thursday.
The state-owned oil firm has begun a rigorous selection process for partners to guide its Initial Public Offering (IPO), marking a pivotal moment in its transformation into a fully commercial entity.
“Beauty Parade” for IPO Partners Underway
At a high-level meeting with potential partners at NNPC Towers in Abuja, the company’s Chief Finance and Investor Relations Officer, Mr. Olugbenga Oluwaniyi, revealed that NNPC Ltd is conducting what it calls an “IPO Beauty Parade” – a competitive evaluation of financial advisers, investor relations experts, and investment banks.
“The IPO Beauty Parade allows us to carefully assess potential partners and determine how they can support NNPC Ltd in this landmark transition,” Oluwaniyi stated.
Three Key Partnership Categories
The company is seeking top-tier partners in three critical areas:
- Investor Relations – To manage communications with shareholders and the market, IPO Readiness Advisers – To ensure full compliance with listing requirements, Investment Bank Partners – To underwrite and structure the share offering
“Only the most competitive proposals in each category will be selected,” Oluwaniyi emphasized, noting that the process aligns with strict capital market regulations.
Fulfilling PIA Mandate
The planned listing fulfills Section 53(1) of the Petroleum Industry Act 2021, which requires NNPC Ltd to become a publicly traded company within six years of the Act’s passage. The move also complies with the Companies and Allied Matters Act (CAMA) 1990.
Market analysts anticipate strong investor interest in what could become one of Nigeria’s largest publicly listed companies. The IPO is expected to significantly deepen Nigeria’s capital markets while enhancing transparency in the national oil company’s operations.
NNPC Ltd plans to conclude its partner selection process in the coming weeks, with the IPO expected to launch later this year pending regulatory approvals.
