Group Managing Director of the Nigerian National Petroleum
Corporation (NNPC), Mallam Mele Kyari, has said that the proposed
successor company of the present entity, NNPC Limited, may not be
ready for an Initial Public Offer (IPO) till 2024.
![image](/2021/07/Justice-Ejembi-Eko-1.jpg")
![image](/2021/09/lawpnba.jpg")
Speaking in an interview with Bloomberg Television Monday, the
NNPC helmsman noted that a lot of arrangements needed to be put in
place before any such move could materialise.
![image](/2021/07/escrow-service1.jpg")
By the provision of the new Petroleum Industry Act (PIA), the
NNPC as currently constituted is expected to transition into a
fully commercialised business concern in which the public could own
shares and take part in its major decisions.
“Surely, it is not what we will do in 2022 or 2023, probably the
earliest consideration will be in three years’ time,” the GMD
stated.
He reiterated that the corporation’s involvement in the Dangote
refinery was to ensure energy security as well as tying down
markets for Nigeria’s crude oil.
Group Managing Director of the Nigerian National Petroleum
Corporation (NNPC), Mallam Mele Kyari, has said that the proposed
successor company of the present entity, NNPC Limited, may not be
ready for an Initial Public Offer (IPO) till 2024.
Speaking in an interview with Bloomberg Television Monday, the
NNPC helmsman noted that a lot of arrangements needed to be put in
place before any such move could materialise.
By the provision of the new Petroleum Industry Act (PIA), the
NNPC as currently constituted is expected to transition into a
fully commercialised business concern in which the public could own
shares and take part in its major decisions.
“Surely, it is not what we will do in 2022 or 2023, probably the
earliest consideration will be in three years’ time,” the GMD
stated.
He reiterated that the corporation’s involvement in the Dangote
refinery was to ensure energy security as well as tying down
markets for Nigeria’s crude oil.