NNPCL says IPO has no fixed date as readiness review continues
The Nigerian National Petroleum Company Limited has not set a date for its proposed initial public offering, Group Chief Executive Officer Bayo Ojulari said. He said consultants and other relevant parties were assessing the company’s preparedness, while shareholders would ultimately decide whether and when to proceed.
The Nigerian National Petroleum Company Limited has said it has no fixed date for its proposed initial public offering, with the company still working through a readiness assessment. Group Chief Executive Officer Bayo Ojulari disclosed this on Tuesday in Abuja at a news conference following the company’s annual general meeting and presentation of its 2025 audited financial statements. Ojulari said NNPCL was focused on meeting the requirements for a possible listing, while consultants and other relevant parties assessed its preparedness and identified any outstanding actions.
“We don’t have a date, but we are working hard to make sure we are ready as soon as we can,” Ojulari said, according to Punch Nigeria. He said management and the board could prepare the company, but could not determine the timing of an IPO independently. The ultimate decision, he said, rested with NNPCL’s shareholders on behalf of the country.
Ojulari added that the timing would depend on the outcome of the readiness review, market conditions and other strategic considerations. The company’s responsibility was to ensure that the evidence and requirements needed for a listing were in place. He identified transparency, clear accountability and sustainable performance as important conditions for readiness.
NNPCL would communicate a date after the relevant assessments had been completed and the necessary advice received.
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