The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, says the corporation won’t offer its shares to the public now on account of certain bottlenecks that had lingered over the years.
He disclosed this during an interview on Bloomberg TV Global Financial News.
The earliest the corporation can issue its Initial Public Offer to investors is in 2024,he said.
Kyari added:“We will be in the position to consider any IPO in three years’ time; that is the provision of the law.But when you want to get ready for IPO, you need to do things different. You need to get your books correct; you need to recapitalise; you need to shape your portfolio and many more things that you have to do until you get IPO ready.
“Surely, it is not what we will do in 2022 or 2023; probably the earliest consideration will be in three years’ time.”
