Tinubu declares NNPCL to list on NGX, eyes Aramco-like status

President Bola Ahmed Tinubu announced Thursday that the Nigerian National Petroleum Company Limited (NNPCL) will be listed on the Nigerian Exchange Limited (NGX) as part of ongoing state-owned enterprise reforms. Speaking during an NGX management visit to the Presidential Villa, Tinubu emphasized the goal is for NNPCL's 'totality'—not just divisions—to list on the exchange, modeled after Saudi Arabia’s Aramco. He linked this to implementing the Petroleum Industry Act (PIA) to reposition Nigeria’s oil and gas sector and attract private-sector investment, citing his prior support for the Dangote Refinery as evidence of this commitment. Tinubu also highlighted NGX’s growth to N158 trillion under his administration’s reforms. While no specific listing date was given, the announcement signals a major shift toward market liberalization in Nigeria’s petroleum industry, potentially opening NNPCL to public investment and increasing sector transparency. The move aligns with broader economic reform agendas but leaves key details like timing, valuation, and investor eligibility pending further government clarification. For investors and stakeholders, this raises questions: Should you prepare for potential NNPCL share offerings, and how might this listing reshape opportunities in Nigeria’s energy market amid ongoing PIA implementation?

SOURCE: https://dailypost.ng/2026/08/07/nnpcl-will-be-listed-on-nigerian-stock-market-tinubu/