NNPC, NLNG Listings: FG targets N750trn capital market, eyes $1trn valuation

The Federal Government has said it is targeting a superior marketplace worthy N750 trillion, with the listing of the Nigerian National Petroleum Company Limited, NNPCL, and Nigeria LNG Limited, NLNG, connected the Nigerian Exchange Limited, NGX.

The country’s Vice President, Kashim Shettima, and the Minister of Finance, Taiwo Oyedele, disclosed this astatine the unveiling of the Nigerian Capital Market Master Plan 2.0, developed by the Securities and Exchange Commission, SEC, successful Abuja connected Monday.

Shettima said the NGX had experienced important maturation since the inauguration of President Bola Ahmed Tinubu’s medication successful May 2023.

On his part, Oyedele said Nigeria should purpose for a $1 trillion superior market, equivalent to much than N750 trillion, wrong the adjacent 10 years to enactment the country’s ambition of gathering a $1 trillion system by 2030.

According to him, determination is an urgent request for the Federal Government to accelerate the listing of selected state-owned enterprises, peculiarly NNPC and NLNG.

He argued that making shares successful the state-owned lipid and state companies disposable to investors would deepen the market, amended transparency and broaden nationalist ownership of nationalist assets.

“We cannot unit them. We would promote Nigerian backstage businesses to list. We volition usage incentives to pull them,” helium said.

This comes arsenic Dangote Refinery, ...