The chief executive officer (CEO) of the Nigerian National Petroleum Company (NNPC) Limited, Bayo Ojulari, says the company is advancing its plans to list on the Nigerian Exchange (NGX).
Speaking in an interview with Bloomberg on Tuesday, Ojulari said the process had made progress, following the example set by billionaire Aliko Dangote’s share offering in his refining business.
“We’ve done the baseline assessment,” Ojulari said.
He explained that the company was working to address gaps identified by its advisers, including adjustments to some reporting structures and governance frameworks.
The development comes two days after the Dangote Group announced plans to extend the application deadline for its initial public offering (IPO) by two weeks, allowing investors from more African countries to participate in the listing.
On October 6, Vice-President Kashim Shettima urged the NNPC to exceed expectations when it lists on the NGX, pointing to the performance of the Dangote refinery.
In July 2025, Ojulari said the NNPC intended to list on the stock exchange by 2028.
However, on September 29, he disclosed that the company had yet to set a date for its IPO, noting that the final decision rests with its shareholders.
Ojulari had previously said the NNPC had begun preparations for the listing and completed the first phase of a diagnostic and gap assessment exercise.