Advertisement
Advertisement

NNPC to list on stock exchange by 2028, says Bayo Ojulari

Bayo Ojulari, group chief executive officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited Bayo Ojulari, group chief executive officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited

Bayo Ojulari, the group chief executive officer (CEO) of the Nigerian National Petroleum Company (NNPC) Limited, says the company plans to be listed on the stock exchange by 2028.

Ojulari spoke at the 9th OPEC international seminar held recently in Vienna, Austria.

In a video posted on the NNPC’s official X account on Friday, he said the national oil company will play a leading role in its transformation into a limited liability entity, partnering with key industry stakeholders.

“With collaborations of our industry players, we will be the catalyst in the transformation of the national oil company to a limited liability company,” the NNPC CEO said.

Advertisement

“And as I mentioned earlier, we have a roadmap to be listed by 2028.”

Ojulari said the NNPC has made “considerable progress” in creating a stable and secure business environment in Nigeria.

“That has been quite an undertaking, but things are looking much, much stable. And we’ll also ensure that the new NNPC provides the prudency and the leadership that is of international repute,” he added.

Advertisement

“I will continue to learn from all of you as we reposition NNPC to be one of the global national companies that is to be reckoned with.”

Ojulari credited the Petroleum Industry Act (PIA) with setting the foundation for the transformation, stating that it has brought stability to Nigeria’s energy sector, solidified existing partnerships, and attracted new investments.

Commenting on the newly appointed NNPC board of directors, he expressed optimism that the new leadership will harness the nation’s vast resources to build the level of success Nigeria deserves.

‘WE’RE EMBARKING ON AGGRESSIVE INFRASTRUCTURE BUILDING’

Advertisement

The NNPC chief said Nigeria is taking bold steps to tackle energy security and infrastructure challenges through aggressive investments in refineries, pipelines, and gas-based industries.

He said there has been great progress in terms of enhancing and resolving the significant shortage of energy, the energy deficiency, “the whole energy security conversation”.

“Nigeria and other sub-African regions are embarking on an aggressive in- country infrastructure building, refineries, pipeline connectings, as well as gas-based industries to ensure that we solve our energy deficiency problem,” Ojulari said.

“Your support will be very instrumental. These opportunities also present significant investment opportunity for all of us.”

Advertisement

The GCEO said Nigeria’s oil and gas industry policies would “dramatically” improve investment and increase oil production.

He said the NNPC aims to increase the country’s oil production capacity to a minimum of 3 million barrels per day (bpd) by 2030.

Advertisement

“We have the ambition to build the capacity for gas production to at least 12 BCF per day,” he added.

“That capacity we will pursue, and of course, in collaboration and leveraging all the relationships in OPEC as we progress but the optionality to unlock these resources is what we are determined to do. We have a clear roadmap to achieve that, and we will continue to share that as we go along.”

Advertisement

Ojulari called on global investors and industry leaders to engage with the new NNPC, and the new Nigeria, noting that the country will demonstrate its readiness for business through tangible actions rather than mere promises.

Advertisement

error: Content is protected from copying.