The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Engr. Bashir Bayo Ojulari, has revealed that the company is positioning itself to be fully ready for an Initial Public Offering (IPO) beyond 2026, marking a key milestone in its corporate transformation agenda.
Speaking during a panel session at the ongoing Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025), Ojulari said the company’s restructuring efforts are being guided by global best practices, transparency standards, and robust financial governance that will make it attractive to investors when it eventually lists on the stock exchange.
According to him, NNPCL’s journey from a state-run corporation to a commercially driven limited liability company has already begun yielding results, with renewed investor confidence, improved operational efficiency, and growing partnerships in upstream and downstream projects.
“Our goal is to make NNPC Limited not just Nigeria’s flagship energy company, but a globally competitive brand capable of attracting private capital. We are taking deliberate steps to ensure our governance structure, asset portfolio, and financial reporting systems meet the standards required for IPO readiness,” Ojulari stated.
He emphasized that the company’s ongoing strategic projects — including the rehabilitation of refineries, the expansion of the gas value chain, and the integration of renewable energy — are part of the preparation toward financial independence and eventual public listing.
Ojulari added that NNPCL is aligning with the Federal Government’s energy transition goals under President Bola Tinubu’s Renewed Hope Agenda, balancing oil and gas development with investments in cleaner energy sources to ensure long-term sustainability.
“The transformation journey goes beyond profit. It’s about building trust, ensuring transparency, and proving that Africa’s largest energy company can operate on a world-class scale,” he said.
Industry analysts say an IPO would mark a historic step for Nigeria’s energy sector, potentially unlocking billions of dollars in investment and enhancing accountability within the oil industry.
As NNPCL works toward its post-2026 IPO readiness, stakeholders are watching closely to see how the company sustains reform momentum, transparency, and profitability key pillars that could define the next phase of Nigeria’s energy evolution.
