Bashir Ojulari, CEO of the Nigerian National Petroleum Company (NNPC) Limited, stated that the company has not yet set a date for its initial public offering (IPO). The announcement came during a recent corporate update, where Ojulari emphasized ongoing preparations for the IPO.
The NNPC, a state-owned entity, has been working on restructuring its operations to meet international standards. Ojulari noted that the process involves regulatory approvals and internal audits. No official timeline was provided for the IPO, which had been discussed in previous meetings.
The delay follows months of speculation about the NNPC’s plans to go public. The company has faced challenges in aligning its financial disclosures with global requirements. Industry analysts suggest the IPO could attract foreign investment but remains contingent on political and economic stability in Nigeria.
