At the 2024 CERAWEEK Conference in Houston, USA, Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), revealed plans for the anticipated public listing of the company’s shares as outlined in the Petroleum Industry Act (PIA).
NNPC Announces Plans for Public Listing and Gas Utilization
Kyari emphasized NNPC’s transformation into a commercial and profit-making entity, moving away from its previous status as a government-owned corporation.
Under the reform process initiated by the PIA, NNPC is transitioning into a limited liability company, with provisions for divesting some shares to shareholders. Kyari highlighted NNPC’s shift towards profitability, stressing its ability to provide dividends and create value for stakeholders.
The NNPC’s Executive Vice President, Upstream, Mrs. Oritsemeyiwa Eyesan, reiterated the company’s commitment to leveraging Nigeria’s abundant gas resources for industrialization and economic development.
She emphasized NNPC’s plans to enhance gas utilization domestically, reduce emissions, and eliminate gas flaring.
Eyesan underscored NNPC’s focus on becoming a major player in the gas sector, particularly for power generation and industrialization.
Additionally, she called for collaboration among African countries to ensure equitable distribution of energy resources within the region.
The panel discussion also featured insights from energy experts including Bob Fryklund, Kendall Dilling, and Philippe Mathieu, addressing strategies for energy transition and maximizing the region’s energy potential.
