By John Ikani
The Nigerian National Petroleum Company Limited (NNPCL) has reaffirmed its commitment to issuing Initial Public Offer (IPO) to investors very soon.
The company’s CEO, Mele Kyari gave the assurance at the 22nd edition of the 2023 Nigeria Oil and Gas (NOG) Energy Conference and Exhibition in Abuja on Tuesday. The theme of the conference is “Powering Nigeria’s Sustainable Energy Future.”
Kyari said that the IPO is in line with the company’s plans to become more competitive and transparent. He also said that the IPO will help to raise much-needed capital for the company’s operations.
“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,” Kyari said. “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 spoke about the company’s plans to address energy poverty in Nigeria. He said that the company is committed to ensuring that more people have access to affordable and sustainable energy.
“Over 30 per cent do not have access to electricity,” Kyari said. “So, we need to focus on making energy more available and affordable.”
Kyari said that the company is working on a number of initiatives to address energy poverty, including expanding gas infrastructure, expanding the liquefaction capacity of NLNG, and enabling the availability of LPG as a cooking fuel and CNG as an alternative fuel for automobiles.
