Nigerian oil major in final stages of IPO for $153bn of assets

State-owned Nigerian National Petroleum Co (NNPC) is finalising preparations for an IPO in the country.

The oil producer’s chief finance and investor relations officer, Olugbenga Oluwaniyi, said in a statement that the group is in talks with prospective investor relations executives and investment banks.

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This is being done in line with capital market regulations and a domestic oil industry law, which requires the company to list after it was transformed from a corporation to a limited liability company in 2022.