The Nigerian National Petroleum Company (NNPC) Limited is focused on transforming into a high‑performing, transparent, and agile organisation, with plans to be IPO‑ready after 2026. This was revealed by Group Chief Executive Officer Bayo Ojulari during the Bloomberg Fire Chat at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2025) in the United Arab Emirates. Ojulari said the state oil company is on track to be listed on the stock exchange by 2028 as part of its strategic transformation into a commercially viable, globally competitive energy company.
The planned listing is embedded in a broader roadmap enabled by the Petroleum Industry Act, which has reset and stabilised Nigeria’s energy industry. The Act provides a clear direction for NNPC’s progress, allowing the company to monitor its achievements and challenges more effectively.
NNPC has already made significant strides in increasing Nigeria’s oil output, currently producing 1.7 million barrels per day. The company aims to reach 2 million barrels per day by 2027 and 3 million barrels per day in the long term. This growth is driven by redefined relationships with international oil companies and independents, the removal of legacy blockers, and alignment on shared value.
The transformation of NNPC is part of a broader effort to strengthen Nigeria’s energy sector. With the stability brought by the Petroleum Industry Act, the company can focus on its goals and objectives. As it moves toward being IPO‑ready after 2026, NNPC is poised to become a major player in the global energy market. Its progress, given past challenges in the Nigerian energy industry, testifies to the country’s commitment to reform and development. By emphasizing transparency, agility, and commercial viability, NNPC is well‑positioned to achieve its ambitions and emerge as a leading energy company in Africa.
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