President Bola Tinubu has disclosed plans to reform the Nigerian National Petroleum Company Limited (NNPCL) and eventually list the state-owned oil company on the capital market.
The President made the disclosure on Thursday when he received the board and management of the Nigerian Exchange Group (NGX) at the State House.
Tinubu’s proposal signals a potentially significant shift in the way Nigeria’s national oil company is structured, managed and positioned within the country’s financial markets.
The President said the government was encouraged by improving economic indicators and increasingly positive assessments of Nigeria’s economy by experts.
According to him, these developments point to stronger prospects for the country and improved economic opportunities for Nigerians.
Tinubu also commended the Nigerian Exchange Group for its role in the recent performance of the domestic capital market, suggesting that a stronger market would be important to the country’s broader economic transformation.
The proposed NNPCL listing could also create an avenue for Nigerians and other investors to participate directly in the ownership and value of the national oil company through the capital market.
While the President did not provide details on the proposed restructuring, the announcement places NNPCL reform alongside the government’s broader economic agenda.
The development comes as the administration continues to highlight improvements in key economic indicators and renewed investor confidence as evidence that its reforms are beginning to yield results.
Tinubu had earlier praised the NGX and his economic management team for what he described as a rebound in the stock market.
The President’s latest announcement is therefore likely to attract significant attention from investors, financial analysts and stakeholders in Nigeria’s oil industry, particularly over the structure, timing and terms of any future NNPCL listing.
