NNPCL has a roadmap to list on NGX by 2028, says Ojulari

The group chief executive officer (CEO) of the Nigerian National Petroleum Company (NNPC) Limited, Bayo Ojulari has revealed that the company has a roadmap to list on the Nigeria Exchange Limited (NGX) by 2028.

He disclosed this at the 9th OPEC international seminar held recently in Vienna, Austria.

In a video posted on the NNPC’s official X account, Ojulari  said, “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.

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

He expressed that the national oil company would play a leading role in its transformation into a limited liability entity, partnering with key industry stakeholders.

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.

“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.

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.

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