Atiku Urges Immediate NNPCL Listing on Stock Exchange

Former Vice President Atiku Abubakar has called for the immediate listing of the Nigerian National Petroleum Corporation Limited (NNPCL) on the stock exchange, aligning with the provisions of the Petroleum Industry Act.

Atiku, through a statement signed by his spokesperson, Paul Ibe, made this call in response to the NNPCL’s decision to hand over the Warri and Kaduna refineries to private operators for management and operation.

The former vice president told PulseNets that listing NNPCL on the stock exchange would not only enhance profitability but also improve transparency and corporate governance.

He emphasized, “Currently, the NNPCL claims to be private, but this is only a ruse to fool the feeble-minded because it remains the ATM of the Federal Government. Anything short of listing the NNPCL on the stock exchange is nothing but a cosmetic development.”

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Atiku further spoke to PulseNets, expressing concerns that NNPC Limited continues to shield the Tinubu administration’s inconsistent subsidy policies, raising doubts about the independence that the PIA mandates for it as a private entity.

He also highlighted that previous arrangements and concessions had failed due to the lack of transparency in the contract award process and the government’s inability to attract investors.