President Bola Tinubu says the Nigerian National Petroleum Company (NNPC) Limited will be reformed and listed on the capital market.
Tinubu spoke on Friday when he received the board and management of the Nigerian Exchange Group (NGX).
The delegation was led by Umaru Kwairanga, chairman of NGX Group, and Temi Popoola, the group’s managing director (MD) and chief executive officer (CEO) at the State House.
Speaking at the meeting, he said “the NNPC will be reformed and listed in the capital market”.
Tinubu said positive reviews from economic experts and encouraging economic indicators suggest a more promising future for all Nigerians.
On July 12, Bayo Ojulari, the group chief executive officer (CEO) of the NNPC, said the company plans to be listed on the stock exchange by 2028.
“With collaborations of our industry players, we will be the catalyst in the transformation of the national oil company to a limited liability company,” the NNPC CEO had said.
“…we have a roadmap to be listed by 2028.”
Ojulari said the NNPC has made “considerable progress” in creating a stable and secure business environment in Nigeria.
Also speaking during the visitation, Zacch Adedeji, executive chairman of the Nigeria Revenue Service (NRS), said the removal of the petrol subsidy laid the foundation for correcting distortions that had affected the country for the past 40 years.
He said the courage to remove it in less than one hour after the president took the oath of office “is the bedrock, background, and fundamental of the changes we are seeing”.
Never miss a moment! Get the stories shaping Nigeria, delivered straight to your phone. Follow Peoplesdaily Newspaper on WhatsApp for breaking news, exclusive reports, and the headlines everyone will be talking about, before anyone else.
