President Bola Tinubu has indicated that the Federal Government is considering a full public listing of the Nigerian National Petroleum Company (NNPC) Limited on the stock exchange, in what could mark one of the most significant reforms in Nigeria’s oil and gas sector.
The President said the proposed move forms part of his administration’s broader agenda to strengthen transparency, improve corporate governance and attract greater private investment into the nation’s energy industry. The plan is also expected to deepen Nigeria’s capital market while positioning NNPC Limited as a more competitive, commercially driven energy company.
A full listing would enable members of the investing public to acquire shares in NNPC Limited once all regulatory and commercial requirements are met. The company, which transitioned into a limited liability company under the Petroleum Industry Act (PIA), is currently wholly owned by the Federal Government through designated government entities and is not yet publicly traded.
Analysts say a successful listing could improve operational transparency, broaden investor participation and unlock fresh capital for expansion, while reinforcing ongoing reforms aimed at transforming the national oil company into a commercially sustainable enterprise.
Although no timeline has been announced, Tinubu’s remarks signal renewed momentum towards opening NNPC Limited to public ownership, a move long viewed as a major milestone in the country’s energy sector reforms.
