…Says listing depends on shareholders
The Nigerian Nationwide Petroleum Firm (NNPC) Restricted has said it has no date for its initial society offering (IPO) yet, and that the decision to list will rest together with its shareholders, not instruction.
Fixed leader executive officer, Bayo Ojulari, said this although responding to questions from journalists at a briefing in Abuja on the organization’s 2025 audited financial results.
“We don’t have a date for the IPO at this time,” he said, adding that a date would be communicated once one is fixed.
He explained that consultants and other parties assessing the business will recommend when it is prepared, later than reviewing the closure of all identified gaps. Activity is now under path across the firm and its subsidiaries, he said, and instruction is making solid promote.
He said the organization must create a trace account, and that the results being presented make section of demonstrating it. He restated the business’s ambition to operate at the rank of Saudi Aramco.
“To do that, we have to produce sure there’s transparency, transparent accountability and sustainable output,” he said, adding that these are what the listing requirements require.
Ojulari said the listing strategy covers the complete enterprise, not merely the refineries.
He additionally tied the IPO to the recovery of debts owed to the organization. Management’s job, he said, is to build sure NNPC Ltd is prepared to list, whilst the final name belongs to shareholders acting on behalf of the country.
That decision will too depend on promote conditions and other strategic considerations.
Ojulari said the enterprise has completed the initial phase of its diagnostic assessment of gaps in meeting listing requirements. He said NNPC Ltd cannot be a listed business if it cannot present discipline in collecting cash owed for the gas and crude it supplies.
Source: No Date For IPO Yet— NNPC
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