The Nigerian National Petroleum Company (NNPC) Limited has commenced the evaluation of potential partners in preparation for its Initial Public Offering (IPO) on the Nigerian Stock Exchange.

This move is in line with the provisions of the Petroleum Industry Act (PIA).

According to a statement by the company’s Chief Corporate Communications Officer, Olufemi Soneye, NNPC Limited is in the final stages of getting listed on the capital market.

The company’s Chief Finance and Investor Relations Officer, Olugbenga Oluwaniyi, disclosed this information during a consultative meeting with partners at the NNPC Towers in Abuja.

The assessment process, tagged “NNPC Ltd. IPO Beauty Parade,” aims to evaluate potential partners in three key areas: Investor Relations, IPO Readiness Advisers, and Investment Bank Partners. The company with the best offer in each category will be selected for partnership.

The IPO listing is a requirement of the PIA, which mandates NNPC Limited to list its shares on the capital market in accordance with the Company and Allied Matters Act (CAMA) 1990.

This development marks a significant milestone in the company’s transformation into a commercially driven entity.