An influential Nigerian advocacy group has endorsed the Nigerian National Petroleum Company Ltd.’s (NNPC Ltd.) planned initial public offering, calling it a pivotal step toward making the state-owned oil major a global contender.
The Peoples Wellbeing Association (PWA), an umbrella organization, praised NNPC Ltd. Group Chief Executive Bayo Ojulari’s reform efforts in a statement Friday.
The IPO, aimed at major international exchanges, would draw foreign capital to overhaul Nigeria’s energy sector, Abba Abubakar, the group’s head of communications said.
“The planned IPO environment amid past regulatory hurdles.
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Abubakar described the strategy as foundational: “This is not just about listing, but about building the right fundamentals, transparency, cost efficiency, and world-class project delivery.”
The PWA expressed confidence that Ojulari’s initiatives will deliver sustained growth and competitiveness for NNPC Ltd., Africa’s largest oil producer.
