Bayo Ojulari, Group Chief Executive Officer of NNPC Ltd has disclosed that no date have been fixed yet for its proposed Initial Public Offering (IPO).
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The Group CEO disclosed this on Tuesday in Abuja at a news conference on the company’s 2025 Audited Financial Statements, following its Annual General Meeting.
He explained that consultants and other relevant parties would assess the company’s overall readiness before a timeline can be established.
“We don’t have a date, but we are working hard to make sure we are ready as soon as we can,” he said.
“The decision to take IPO is not ours. It’s the shareholders that will take ultimately that decision on behalf of the country,” he added.
Going further, Bayo Ojulari said “But just also bear in mind that we cannot just determine a date for IPO on our own. It is the consultants and the parties that assess and evaluate that will give us a sense of readiness overall when they finish.”
The CEO went further to say that the timing of the proposed IPO would depend on the outcome of the readiness assessment, prevailing market conditions and other strategic considerations.
Transparency, clear accountability and sustainable performance would be critical requirements as the company prepares for a potential listing, he added.
He said NNPC Ltd. needed to meet the necessary standards before proceeding with the IPO.
NNPC Group Chief Executive Officer Bayo Ojulari had in July 2025, said the company had a roadmap to be listed by 2028 as part of its transformation into a commercially viable energy company.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
