President Bola Ahmed Tinubu has said the Nigerian National Petroleum Company Limited (NNPCL) will eventually be fully listed on the Nigerian Exchange (NGX).
Tinubu disclosed this on Thursday when he received the management of the Nigerian Exchange Limited at the Presidential Villa in Abuja.
The President said the planned listing is part of his administration’s reforms aimed at transforming NNPCL into a more efficient, transparent and competitive energy company.
According to him, the government is working to develop NNPCL into a company capable of competing with leading global energy firms such as Saudi Arabia’s Aramco.
Tinubu said the implementation of the Petroleum Industry Act, alongside ongoing reforms within NNPCL, would strengthen the company’s operations and improve Nigeria’s oil and gas sector.
He explained that the government’s long-term objective goes beyond listing specific subsidiaries or divisions of NNPCL, stressing that the entire company would one day be listed on the Nigerian stock market.
“We will do NNPCL reforms to the extent that one day the totality of it, not just arms and legs, the totality of it, will be listed on NGX,” Tinubu said.
The President also expressed satisfaction with the growth of the Nigerian capital market, noting that the market’s value had risen to about ₦158 trillion since the beginning of his administration’s economic reforms.
He described the development as an indication of growing confidence in Nigeria’s financial market and investment environment.
Tinubu further stressed the importance of attracting greater private-sector investment to accelerate economic growth, create employment and expand business opportunities.
He said encouraging private investment remained a key component of his administration’s economic strategy.
The President also recalled his support for industrialist Aliko Dangote’s investments, saying, “We need to encourage the private sector to invest more in the economy. It’s one of the reasons I backed Dangote, even before I became president.”
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