Get ready to buy our shares, NNPCL tells investors

Group Managing Director of NNPC, Mele Kyari

Get ready to buy our shares, NNPCL tells investors

The Nigerian National Petroleum Company Limited (NNPC Ltd) says it will soon sell its shares to interested members of the public.

Group Chief Executive Officer (GCEO) of NNPC Ltd, Mele Kyari, said this on Tuesday in Abuja.

He spoke at the 22nd edition of the 2023 Nigeria Oil and Gas (NOG) Energy Conference and Exhibition.

The News Agency of Nigeria (NAN) reports the theme of the conference as ‘Powering Nigeria’s Sustainable Energy Future’.

Kyari said the decision to sell the national oil shares to investors was based on the provisions of the law.

He said, “As a company that is guided under the regulations of the Companies and Allied Matters Act, the NNPC Limited will declare its shares to the public for acquisition very soon.

“We will pay taxes; we will pay royalties like anyone; we will also pay dividends to our shareholders which many of you are.

Kyari also said, “We are in business and business means competition. We are a private sector; forget about the fact that we are owned by the government 100 per cent.

“You are also aware; we are going Initial Public Offer very soon, we will sell a part of our equity.”

“It is in the law. And once that happens, we will not be any different from any of you and it will be a very different business environment,” he said.

On subsidy removal, Kyari said it had ensured positive change in the sector by freeing up capital for powering the sustainable supply of energy.

NNPCL will sell shares to investors soon – GCEO Kyari

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