NNPC, NGX Investigate Capital Market Financing Options

This was stated during a courtesy visit by NGX management to NNPC, led by Mr. Abubakar Mahmoud, chairman of NGX, who stated, “As an Exchange, we are always interested in developing strong relationships with notable institutions like NNPC, and we are quite delighted at some of the recent developments we have seen.”

“As a result, we’d like to congratulate you on the successful signing of the Petroleum Industry Act, which we believe will transform the industry and, as a result, open up new opportunities for both NGX and NNPC to pursue in the future.”

Mr. Temi Popoola, the chief executive officer of NGX, praised the NNPC management for their outstanding efforts in improving transparency, accountability, and performance.

“Today, we are delighted to have the opportunity to explore several capital market related financing topics with the NNPC, including the possibility of a potential listing on the exchange,” he added.

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According to Popoola, a NNPC listing would be extremely beneficial to the Nigerian capital markets and would go a long way toward deepening the NNPC’s current transformation.

“Furthermore, the capital markets offer the NNPC a credible opportunity to meet its short and long-term financing needs. NGX, in collaboration with other stakeholders, is eager to help.”

“The recent signing of the Petroleum Industry Act has opened up unique opportunities to create value for our shareholders,” said Mr. Mele Kyari, NNPC’s Group Managing Director. As a result, we will need to raise capital to strengthen our position as Africa’s largest corporation and expand capacity.”
“As a result, we will be delighted to collaborate with NGX on the short- and long-term financing options available in the market,” he added.

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NGX continues to offer a platform for private and public companies to raise capital to help them achieve their goals. NGX has raised over N6.71 trillion in funding across fixed income and equity asset classes as of 2021, with no signs of slowing down.