- Tinubu Unveils Plan to List NNPCL on Nigerian Exchange
- Says the reforms would eventually pave the way for the full listing of NNPCL on the Nigerian Exchange, allowing the company to operate more competitively
- Explained that this belief informed his support for the Dangote Refinery project long before he assumed office as President
President Bola Ahmed Tinubu has announced plans to list the Nigerian National Petroleum Company Limited (NNPCL) on the Nigerian Exchange Limited (NGX) as part of efforts to transform the state-owned oil company into a globally competitive commercial enterprise.
Eko Hot Blog reports that the President made the announcement on Thursday while receiving the management of the Nigerian Exchange Group at the Presidential Villa in Abuja.
EDITOR’S PICK
- Nearly 30 Years Later, Who Really Knows How Abacha Died?
- Dapo Abiodun, Ipara Is Waiting for Leadership
- Why Every Husband Must Protect His Wife, Even After Death
Tinubu said the Federal Government’s goal is to build NNPCL into an energy company that operates at the same level as Saudi Arabia’s national oil company, Aramco, through sustained reforms and stronger corporate governance.
According to him, the ongoing implementation of the Petroleum Industry Act (PIA) is laying the foundation for a more transparent, efficient and profitable oil and gas sector.
He said the reforms would eventually pave the way for the full listing of NNPCL on the Nigerian Exchange, allowing the company to operate more competitively.
“We will carry out NNPCL reforms to the point where the entire company, not just parts of it, will be listed on the Nigerian Exchange,” Tinubu said.
The President also applauded the performance of the Nigerian Exchange, noting that its market capitalisation has risen to about ₦158 trillion under his administration’s economic reform agenda.
Tinubu stressed that attracting more private investment remains central to his government’s economic strategy, saying government alone cannot drive the country’s development.
He explained that this belief informed his support for the Dangote Refinery project long before he assumed office as President.
“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,” he said.
FURTHER READING
- Lagos’ Internally Generated Revenue Hits ₦1.17tn in First Half of 2026
- Portable Suffers Second Straight Celebrity Boxing Defeat as Okocha Wins Fight
- Tinubu Assures Nigerians of Guardrails Against State Police Abuse
Click here to watch video of the week
