Public listing of company’s shares on the stock market to commence soon – NNPCL

Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, yesterday said that the anticipated public listing of the company’s shares at the stock market as provided for in the Petroleum Industry Act (PIA) will start soon. Kyari told international oil and gas players participating at the ongoing 2024 CERAWEEK in Houston, United States that NNPC would become a quoted company in line with the PIA, adding that at maturity, some of the national oil company’s shares would be divested. Fielding questions bordering on the changes in NNPC and the company’s strategic position in Nigeria, during a fireside chat at the event, Kyari said NNPC had experienced transformation owing to the reform process triggered by the PIA. He said NNPC has moved away from a government-owned corporation to a limited liability company that is now a commercial and profit-making company. He explained that in the past, the company was a corporation owned by the government but wasn’t a commercial company and that the organization needed to move away from that situation to a reform process that converted it to a full limited liability company