Nigeria: NNPC prepares for IPO.

The Nigerian National Petroleum Company Limited (NNPC) is finalising the final stages of its long-awaited IPO, which is attracting a great deal of interest from the financial and energy communities. The move marks a major evolution for the Nigerian state-owned company and could transform the African energy landscape.

NNPC, the main player in Nigeria's oil sector, is continuing its consultations with several investment banks and financial advisers with a view to this listing. According to its Director of Finance and Investor Relations, Olugbenga Oluwaniyi, these discussions are being conducted in strict compliance with Nigerian and international regulatory requirements.

This initiative follows the transformation of NNPC into a limited company in 2021, in application of the Petroleum Industry Act (PIA). This law, adopted the same year, requires NNPC to be listed on the financial markets, with the aim of increasing transparency and modernising the Nigerian energy sector.

The PIA aims to restructure the governance of the national oil industry by imposing new obligations in terms of transparency and resource management. With around 37 billion barrels of proven reserves, NNPC plays a central role in the Nigerian economy. Its listing on the stock exchange could boost investor confidence and attract capital that is essential to the development of the sector.

With an estimated production of 1.4 million barrels per day, NNPC is a key player in the African oil market. Its flotation on the stock market could not only attract foreign capital flows, but also foster the development of regional energy infrastructure. However, no precise date has yet been confirmed, leaving investors waiting in anticipation.

In preparation for its IPO (Initial Public Offering), NNPC has announced the creation of a joint venture with Swedish company Stena Bulk and Nigerian company Caverton Marine Limited. This partnership aims to improve the maritime transport of hydrocarbons and secure the supply of oil and gas in Nigeria and West Africa.

NNPC's IPO is a landmark event for the African energy market. It represents a strategic opportunity for the company and a potential turning point for the regional oil sector.