By Ayomide Otitoju
The Nigerian National Petroleum Company (NNPC) Limited has reaffirmed its commitment to transforming into a high-performing, transparent, and agile organization, positioning itself to be Initial Public Offering (IPO)-ready after 2026.
Group Chief Executive Officer, Bayo Ojulari, disclosed this during a Bloomberg Fire Chat session at the ongoing Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025).
Ojulari reiterated NNPC’s roadmap to list on the stock exchange by 2028, in line with its strategic vision to become a commercially viable, globally competitive energy company. “We have a roadmap to be listed by 2028,” he said, addressing an audience of global energy leaders, OPEC ministers, oil executives, and investors.
He attributed the company’s transformation to the enabling environment provided by the Petroleum Industry Act (PIA), describing it as a catalyst for stability and reform in Nigeria’s energy sector. “The PIA has reset and brought stabilisation to the energy industry, particularly oil and gas in Nigeria. It gives us the roadmap and allows us to monitor our progress,” Ojulari noted.
In a statement released in Abuja by Chief Corporate Communications Officer, Andy Odeh, Ojulari revealed that NNPC has boosted Nigeria’s crude oil production to 1.7 million barrels per day, with plans to reach 2 million barrels by 2027 and 3 million in the long term.
He attributed the improved output to strengthened partnerships with International Oil Companies (IOCs) and independent producers, removal of legacy obstacles, and a renewed focus on shared value and operational efficiency.
