The Nigerian National Petroleum Company Limited (NNPCL) is in the final stages of listing on the capital market, a move in compliance with the Petroleum Industry Act (PIA) 2021.

In a statement issued Thursday in Abuja, NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, confirmed the development. Chief Finance and Investor Relations Officer, Olugbenga Oluwaniyi, further explained that the company is engaging with potential partners through the “NNPC Ltd. IPO Beauty Parade,” an initiative designed to ensure compliance with capital market regulations ahead of its Initial Public Offering (IPO).

According to Oluwaniyi, the process will evaluate partners in three crucial areas: Investor Relations, IPO Readiness Advisors, and Investment Banking Partnerships, with the best proposals selected for each category.

The planned listing on the Nigerian Exchange (NGX) is a critical step in NNPCL’s transition from a state-owned entity to a fully commercial enterprise, as mandated by the PIA. The move, coming four years after the Act’s enactment, is expected to enhance transparency and public ownership by allowing institutional investors to acquire shares in the company.

This milestone marks a significant transformation for NNPCL, positioning it as a competitive, commercially driven entity in the global energy sector.