The Nigerian National Petroleum Company Limited has not set a date for its planned initial public offering, as the decision on when to list the company will ultimately be taken by its shareholders.

NNPC Group Chief Executive Officer Bashir Ojulari disclosed this during a media briefing in Abuja, explaining that the company is currently focused on completing the preparations required for a potential listing.

According to Ojulari, NNPC has completed the first stage of a diagnostic and gap assessment aimed at determining what needs to be addressed before the company can become listing-ready.

He said the process covers the entire company rather than focusing only on its refining operations.

Ojulari explained that NNPC management is responsible for putting the necessary structures and systems in place, while external consultants and assessors will determine the company’s readiness before shareholders decide whether and when to proceed.

“We don’t have a date, but we are working hard to make sure we are as ready as soon as we can,” he said.

The NNPC chief executive added that the eventual timing of the IPO would also be influenced by market conditions and other strategic considerations.

He said the company had now formally begun its “journey of listing readiness”, indicating that preparations are continuing despite the absence of a confirmed listing date.

The planned IPO has been under discussion for several years. In July 2025, Ojulari had said NNPC was targeting a stock market listing by 2028.

The company had previously set earlier targets for the IPO. Former NNPC Group Chief Executive Officer Mele Kyari had said in 2022 that the company was expected to be ready for a public offering by mid-2023, but that target was not achieved.

NNPC’s proposed listing would allow investors to buy shares in the state-owned energy company if and when its shareholders approve the move and the necessary regulatory and market requirements are completed.