According to Reuters article published on March 7, 2023, NNPC Ltd, which recently took over the assets of Nigeria's state oil company, expects to decide on where it plans to list shortly, and an initial public offering of the company could come in 2024, its chief financial officer said on Tuesday.
CFO Umar Ajiya declined to be drawn on whether a listing domestically or internationally was preferable, but told a panel discussion at the CERAWeek energy conference in Houston that the company's internal efforts to make itself IPO-ready should be completed by the middle of this year.
"Potentially next year should be feasible, but it is subject to the main shareholders' decision," Ajiya said, when asked for when the IPO will happen.
After nearly half a century, state-run Nigerian National Petroleum Corp ended operations as a government corporation, with the formation in July of NNPC Ltd, which no longer has recourse to state funds.
