Mele Kyari, the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, indicated during the CeraWeek Conference in Houston, United States, that the public listing of the company is on the horizon.
Kyari explained that the Petroleum Industry Act (PIA) provides a legal framework for the company’s reform process, paving the way for public shareholders to acquire shares. He emphasized that this opportunity did not exist in the past and stated that the law stipulates the eventual ownership by others within three years of the company’s incorporation.
Highlighting NNPC’s transformation from a loss-making entity to a profitable one, Kyari stressed the company’s commitment to creating value for stakeholders and partners while ensuring accountability.
Source: Parrot Nigeria