President Bola Ahmed Tinubu has announced plans to list the Nigerian National Petroleum Company Limited ,NNPCL, on the Nigerian stock market as part of efforts to deepen investment and strengthen the country’s capital market.
Tinubu disclosed this on Thursday while receiving a performance report from the leadership of the Nigerian Exchange Group, NGX, at the Presidential Villa, Abuja.
The President said the planned listing would create opportunities for Nigerians and investors to participate in the ownership and growth of the national oil company.
He also commended the management of the NGX and his economic team for their efforts toward improving the performance of the Nigerian capital market.
“We will do NNPCL reforms to the extent that one day the totality of it, not just arms and legs, the totality of it, will be listed on NGX.” He said.
Tinubu said his administration would continue to implement reforms aimed at attracting investment, strengthening economic institutions and expanding opportunities for Nigerians.
“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 added.
The proposed listing of NNPCL is expected to further deepen the country’s capital market and increase transparency and public participation in the petroleum industry.
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