NNPCL may overwhelm us like Dangote Refinery on NSE – Shettima suggests

The Vice President, Kashim Shettima, connected Tuesday, hinted astatine the imaginable interaction of the Nigerian National Petroleum Company Limited, NNPCL, being listed connected the Nigeria Stock Exchange.

Shettima, portion addressing the Group Chief Executive Officer of the NNPCL, Bayo Ojulari, said the institution whitethorn overwhelm Nigerians, conscionable similar the Dangote Refinery did erstwhile listed connected the Nigerian Stock Exchange.

The vice president spoke portion representing President Bola Tinubu astatine the 5th day solemnisation of the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, successful Abuja.

According to Shettima: “The Chairman, absorption and unit of NUPRC and of people my precise bully friend, Bayo Ojulari of the NNPCL.

“I learnt that you are going to the banal marketplace precise soon, truthful you volition overwhelm america the mode Dangote did.”

Recently, Tinubu had confirmed plans to database the entirety of NNPCL, alternatively than conscionable abstracted subsidiaries oregon concern arms connected the Nigerian banal exchange.

The determination was modelled aft Saudi Arabia’s Aramco to thrust commercialized ratio and planetary competitiveness.

The measurement was besides rooted successful the firm restructuring mandated by the Petroleum Industry Act, PIA, of 2021.

Similarly, Dangote Petroleum Refinery and Petrochemicals precocious officially launched its Initial Public Offering, IPO.

The offer, which was brand...