Tinubu Reveals Future Plan For NNPCL, Says Full NGX Listing Is Coming
Tinubu Reveals Future Plan For NNPCL, Says Full NGX Listing Is Coming
President Bola Ahmed Tinubu has disclosed that the Nigerian National Petroleum Company Limited (NNPCL) will eventually be fully listed on the Nigerian Exchange Limited (NGX) as part of efforts by his administration to reposition the national oil company into a globally competitive and transparent organisation.
According to Ireporter Online, Tinubu made the disclosure on Thursday when he received the management team of the Nigerian Exchange Limited at the Presidential Villa in Abuja.
The President stated that his administration’s ongoing reforms are focused on transforming NNPCL into a highly efficient energy company capable of competing with leading global firms, including Saudi Arabia’s Aramco.
Tinubu explained that the implementation of the Petroleum Industry Act, alongside other restructuring measures, would help improve the company’s operations, increase accountability and strengthen Nigeria’s oil and gas sector.
He noted that the government’s long-term vision is not limited to listing only selected subsidiaries or parts of the company but ensuring that the entire NNPCL becomes available on the Nigerian stock market. Online news platform
According to the President, the move is aimed at enhancing transparency, attracting investment and making the company more competitive in the global energy industry.
Tinubu also praised the growth of the Nigerian Exchange, revealing that the market’s total value has increased significantly to about ₦158 trillion under his administration’s economic reforms.
He described the development as evidence of growing confidence in Nigeria’s financial sector and investment environment.
The President stressed that encouraging greater private sector participation remains a key priority of his administration, noting that increased investment would help expand economic opportunities, create jobs and accelerate national development. Executive Branch
Tinubu added that his government would continue supporting major private sector initiatives as part of efforts to strengthen Nigeria’s economy.
“We will carry out NNPCL reforms to the extent that one day, the totality of it, not just parts of it, will be listed on NGX,” the President said.
He further stated that creating an environment where businesses and investors can thrive is essential to achieving sustainable economic growth.
