NNPCL plans 10% stake sale to investors as revenue hits N4.61trn, profit rises to N509bn
The Nigerian National Petroleum Company Limited, NNPCL, is attracting attention over plans to offer between 5 and 10 per cent of its equity to private investors, alongside its latest financial performance, which saw revenue climb to N4.61 trillion and profit after tax reach N509 billion in September 2026. The Group Chief Executive Officer of NNPCL, […] NNPCL plans 10% stake sale to investors as…
The Nigerian National Petroleum Company Limited (NNPCL) is exploring the possibility of offering a 5 to 10 percent stake to private investors, as reported by Reuters on Wednesday. This move comes alongside NNPCL's impressive financial performance in September 2026, where revenue surged to N4.61 trillion and profit after tax reached N509 billion.
NNPCL's Group Chief Executive Officer, Bayo Ojulari, confirmed the proposed share sale through an initial public offering (IPO) during an interview with the news agency. The company is also contemplating a secondary listing on either the London or New York Stock Exchange. The proposed listing would provide NNPCL with increased public oversight and private sector investment while preserving federal government oversight of the national oil company.
NNPCL's September 2026 financial report indicated that the company generated N4.61 trillion in revenue, with a profit after tax of N509 billion. During the same period, Nigeria's total hydrocarbon production surged to 3.04 million barrels of oil equivalent per day, with crude oil and condensate output at 1.70 million barrels daily and natural gas output at 7,789 million standard cubic feet per day.
Additionally, NNPCL retail outlets in Abuja have lowered fuel pump prices to N1,315 per litre, down from the previous range of N1,370 to N1,405.
Written by urgent.news from Daily Post Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
