The Nigerian National Petroleum Company Limited (NNPC Ltd) has officially entered the final stages of preparations for its highly anticipated debut on the Nigerian capital market in line with the provisions of the Petroleum Industry Act (PIA) 2021.
In a statement released on Thursday, the company confirmed it is conducting an investor engagement exercise tagged the “NNPC Ltd. IPO Beauty Parade”—a consultative process aimed at selecting the most suitable partners ahead of the Initial Public Offering (IPO).
According to Mr. Olugbenga Oluwaniyi, the Chief Finance and Investor Relations Officer at NNPC Ltd, the process is being conducted in line with best practices for capital market operations.
The company is currently evaluating offers from potential partners across three core areas: Investor Relations Management, IPO Readiness Advisory and Investment Banking Services.
Each selected partner will play a strategic role in ensuring NNPC Ltd’s readiness for listing, supporting the company through regulatory compliance, stakeholder engagement and public offering structuring.
“The objective is to identify partners with the expertise, track record, and alignment to support our long-term value creation strategy as we approach the public market,” Oluwaniyi said during the consultative session held at NNPC Towers in Abuja.
The move is anchored in the PIA’s vision of transforming Nigeria’s petroleum sector into a transparent, efficient, and commercially viable industry.
The Act mandates NNPC Ltd to operate under the Companies and Allied Matters Act (CAMA), which includes the provision for share listing and public accountability.
By taking steps toward an IPO, NNPC Ltd seeks to deepen its corporate governance, improve access to capital, and position itself competitively among global national oil companies.
The planned listing will also provide Nigerians with an opportunity to directly participate in the ownership of the country’s most strategic energy asset.
Analysts have hailed the development as a long-awaited step toward greater transparency in the country’s petroleum value chain.
Market watchers anticipate that NNPC Ltd’s public listing could catalyze significant foreign investment and enhance liquidity on the Nigerian Exchange.
While no official date has been announced for the IPO, insiders suggest that the preparatory phase, including partner selection and compliance reviews, will determine the timeline for the offering.
With the capital market listing now on the horizon, NNPC Ltd is expected to align with global financial reporting standards and maintain stricter operational discipline, in keeping with investor expectations.
The development signals Nigeria’s broader commitment to unlocking value from its energy sector, diversifying its revenue base, and leveraging private capital to drive growth in a post-subsidy era.
