The Nigerian National Petroleum Company (NNPC) Limited has restated its plan to issue its Initial Public Offer(IPO) to investors soon.
The Group Chief Executive Officer of the company, Mele Kyari, said this at the Nigeria Oil and Gas Energy Conference and Exhibition in Abuja on Tuesday.
“As a company that is guided under the regulations of the Companies and Allied Matters Act, the NNPC Limited will declare its shares to the public for acquisition very soon,” he said.
“We will pay taxes; we will pay royalties like anyone; we will also pay dividends to our shareholders, which many of you are.
"We are in business, and business means competition. We are a private sector company. Forget about the fact that we are owned by the government 100 percent.
“You are also aware that we are having our Initial Public Offer very soon. We will sell a part of our equity.
“It is in the law, and once that happens, we will not be any different from any of you and it will be a very different business environment,” he added.
NNPC, a state-oil company, became a limited liability company in July 2022 after former President Muhammadu Buhari signed the Petroleum Industry Act.
