NNPCL plans 10% stake sale to investors as revenue hits N4.61trn, profit rises to N509bn

The Nigerian National Petroleum Company Limited, NNPCL, is attracting attraction implicit plans to connection betwixt 5 and 10 per cent of its equity to backstage investors, alongside its latest fiscal performance, which saw gross ascent to N4.61 trillion and nett aft taxation scope N509 cardinal successful September 2026.

The Group Chief Executive Officer of NNPCL, Bayo Ojulari, disclosed the projected stock merchantability successful an interrogation with Reuters, explaining that the state-owned lipid institution was considering offering betwixt 5 and 10 per cent of its shares to investors done an archetypal nationalist offering, IPO.

Although Ojulari did not supply a timeline for the projected banal marketplace listing, helium indicated that the institution was besides considering a secondary listing connected either the London oregon New York Stock Exchange.

The projected listing would exposure NNPCL to greater nationalist scrutiny and backstage assemblage concern portion allowing the Federal Government to support operational power of the nationalist lipid company.

Meanwhile, NNPCL's September 2026 fiscal and operational study showed that the institution generated N4.61 trillion successful gross and recorded a nett aft taxation of N509 cardinal during the month.

According to the report, Nigeria's full hydrocarbon accumulation accrued to 3.04 cardinal barrels of lipid equivalent per day.

Crude lipid and condensate accumulation stood astatine 1.70 cardinal barrels per day, portion earthy state output r...