₦airaland Forum

4willer:
NNPC listing: Federal Govt signals plan to sell shares on NGX

by Chike Olisah; NAIRAMETRICS


President Bola Ahmed Tinubu has hinted that his administration’s economic reform would eventually include the listing of the shares of the Nigerian National Petroleum Company (NNPC) Limited on the Nigerian Stock Exchange (NGX).

This was made known by President Tinubu when he received the board and management of the Nigerian Exchange Group at the State House, Abuja, on Thursday, August 6, 2026.

President Tinubu said the NNPC will be reformed and then listed in the capital market, enabling it to become a publicly traded company, allowing Nigerians and other investors to buy and own shares through the Nigerian Stock Exchange.

He reinforced his administration’s commitment to leveraging the capital market to mobilise investment, broaden public ownership and accelerate national economic development.

Tinubu also referred to another state-owned oil company, Aramco, which is publicly quoted and owned by the Saudi Arabian government.

‘’The expansion is all for us, and I could look back and look at Aramco and others and see how the oil-producing company of Saudi Arabia was, the life of a publicly quoted company. We can refine and do NNPC reform to the extent that one day, the totality of it, not just the arms and legs, the totality of it will be listed there.
‘’I thank you all, all the revenue service and many other people in the team for what they are doing,’’ Tinubu said.

Speaking at the occasion, the Minister of Finance and the coordinating Minister of the economy, Taiwo Oyedele, said,

“The stock market has experienced significant growth over the past few years, especially in the last three years as a result of the reforms in the economy. So much so that the capital market in Nigeria is the best performing in the world.
‘’The capital market is one of the fastest ways to create wealth for millions of Nigerians.’’

More insight

In July 2025, the Group Chief Executive Officer of the NNPC, Bayo Ojulari, declared that the company is now on track and has a roadmap to be listed on the stock exchange by 2028 as part of its strategic transformation into a commercially viable, globally competitive energy company.

“As I mentioned earlier, we have a roadmap to be listed by 2028,” Ojulari announced to the audience, comprising global energy leaders, OPEC ministers, oil company executives, international investors, and key stakeholders in the oil and gas industry.
The Nigerian Exchange Group, led by the Chairman, Dr Umaru Kwairanga, and the Group Managing Director/Chief Executive Officer, Temi Popoola, briefed the President on the rebound of the market from N30 trillion in 2023 to N160 trillion today.

President Tinubu commended the Economic Management Team, made up of the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele; the Minister of Budget and National Planning, Atiku Bagudu; the Central Bank Governor, Yemi Cardoso, and Chairman/CEO of the National Revenue Service, Dr Zacch Adedeji, for their foresight, dedication and diligence.

“I can see the excitement in the room. All I can do is to celebrate you all today. It is a thing of joy to have this feedback. When we took over, it was very challenging. I had to talk to myself and define my background to accept the assets and liabilities of my predecessor.
“I found a partner in the CBN Governor, Yemi Cardoso. We were in the negative with monetary policy and the reserve. We had N30 trillion printed, and there were liabilities. I thank you very much, Yemi Cardoso.’’

What you should know

In March 2025, the NNPC had hinted that it was in the final stages of listing on the capital market as it prepares for an Initial Public Offering (IPO) in line with the Petroleum Industry Act (PIA) 2021.

Olugbenga Oluwaniyi, the company’s Chief Finance and Investor Relations Officer, revealed that NNPC Ltd has commenced an “IPO Beauty Parade”, a strategic engagement with prospective partners to ensure compliance with capital market regulations ahead of its planned listing.

“The Nigerian National Petroleum Company Limited (NNPC Ltd) is at the final stage of getting listed in the capital market, in keeping with the provisions of the Petroleum Industry Act (PIA) 2021,” the statement read in part.

elengine:
😀😀😀 I promise to be loyal to Oga wale and I will buy 10m units if e reach 8 naira

megawealth01:
😂 😂 😂 😂 😂 🤣 🤣 🤣 🤣 🤣 loyalty pays ba?

ghm:
Economic (NGX, CBN, NRS, FMF, SEC etc.) Team's visit to the President.


https://www.youtube.com/watch?v=5ayDFGR4dYw

Streetinvestor2 and co, over to you.

ghm:
Economic (NGX, CBN, NRS, FMF, SEC etc.) Team's visit to the President.


https://www.youtube.com/watch?v=5ayDFGR4dYw

Streetinvestor2 and co, over to you.

elengine:
Yes oh. Regardless of the shege, I still fit loyal on that condition

megawealth01:
Ask.those that bought at #200 but later saw it at #2+ na

Streetinvestor2:
You are absolutely correct the usa court determined a comedy abi
And the supreme court of nigeria said even in forfeiture case a crime has been committed
Was that not what the supreme court ruled at a point in this country. ..ariyoola abi watin be his name again

megawealth01:
Ask.those that bought at #200 but later saw it at #2+ na

megawealth01:
ACCESS bank would have experienced great hike if WIGWE was alive

londonerr:
What did you buy that sunk to 2 Naira from 200 Naira

Princkez:
Good morning all,please if I may ask the funds that will be realised from the sales of Oba Otudeko shares were will it go?

Mpeace:
I think but am not too sure. It might go to settle all the money Oba Otudeko owed FBNH. Remember those loans were the beginning of the whole problem.

Princkez:
Good morning all,please if I may ask the funds that will be realised from the sales of Oba Otudeko shares were will it go?

chimex38:
I think if it is termed "share sale", it goes to existing or new shareholders and not to the company.

Same thing with OandO case.
The share-sale are being distributed to shareholders not to the company.

NSEstudent:
Maybe I'm lost. Are the shares seized from him?

Mpeace:
Something like that. It was part of a settlement/deal

SonofElElyonRet:
The CEO of the stock exchange recently "reported" Opay and Palmpay to Tinubu for making money in Nigeria but not doing dual listing for Nigerians to partake in their upcoming POs. Opay went to New York and Palmpay went to Hong Kong. Hope Tinubu will step in to compel both companies to give Nigerians a chance to partake

lionshare:
Totally support this. OPay is fast becoming a systemic to our payment space. Plus, the terms of those OPay and PalmPay loans are ridiculous. The FG should rein in on them to charge normal rates that will ease the burden on the lenders.

ppogba:
Which Opay and palmpay loan rates are ridiculous?

Have you bothered to compare their rates with commercial banks and MFBs? Please do so.

ppogba:
Which Opay and palmpay loan rates are ridiculous?

Have you bothered to compare their rates with commercial banks and MFBs? Please do so.

lionshare:
Totally support this. OPay is fast becoming a systemic to our payment space. Plus, the terms of those OPay and PalmPay loans are ridiculous. The FG should rein in on them to charge normal rates that will ease the burden on the lenders.

lionshare:
GTB QuickCredit offers about 20% annual interest. Can OPay or PalmPay match that?

lionshare:
GTB QuickCredit offers about 20% annual interest. Can OPay or PalmPay match that?

ayobama1:
2.95% monthly interest rates compounds to 36% plus annually

Ameboperoo:
Palmpay that offer 2% *daily* and the tenure of their loan is lass than 2 months