The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Bayo Ojulari, has declared that the company is now on track and has a road map to be listed on the stock exchange by 2028 as part of its strategic transformation into a commercially viable, globally competitive energy company.
He made the disclosure at the 9th Organisation of the Petroleum Exporting Countries International Seminar recently held in Vienna, Austria.
Our correspondent got the confirmation from a video posted on the official X handle of the company on Friday.
“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.
According to him, the listing is part of a larger roadmap enabled by the Petroleum Industry Act, which he said has reset and stabilised Nigeria’s energy industry.
“Nigeria has been undergoing a transformational journey since the enactment of the Petroleum Industry Act.
“The PIA has reset and brought stabilisation to the energy industry, particularly oil and gas in Nigeria. It gives us the roadmap and allows us to monitor our progress,” Ojulari said.
He described the PIA as a bold legislative milestone that is already yielding dividends by attracting new investors, strengthening partnerships and providing clarity to stakeholders across the value chain.
“The undertaking of passing such a law would be difficult anywhere in the world, and it takes time to implement, especially for national oil companies.
“But it takes the collaboration of industry players and our regulatory bodies to achieve the greatness we want,” the GCEO stated.
Ojulari further pointed to the newly reconstituted board of directors of the NNPCL, which he described as a team of “consummate professionals and global leaders who have worked across international companies and the private sector.”
He said their appointment is part of President Bola Tinubu’s strategic vision to reposition the NNPCL and build a commercially viable national oil company that can compete globally.
“With the collaboration of our industry players, we would be the catalyst in the transformation of the national oil company to a limited liability company,” he said.
Ojulari also highlighted reforms the company has made to improve investor confidence, including enhanced security and operational stability.
We have done quite a lot in terms of providing stability, ensuring that when you do business in Nigeria, your business is secured. That has been quite an undertaking,” he said.
He added that the company’s focus on transparency and global best practices will help it achieve its vision of becoming “a national oil company to be reckoned with internationally.”
“We would also ensure that the new NNPC provides the prudence and leadership that is of international repute, and we would continue to learn from all of you as we reposition NNPC,” he said.
