FG to list NNPC, other key govt assets on Nigerian Exchange

Minister of Finance and the Coordinating Minister of Economy, Prof Taiwo Oyedele, has disclosed that the Federal Government would encourage the listing of the Nigerian National Petroleum Company Limited (NNPC) and key government assets on the Nigerian Exchange.

Speaking on Monday at the National Capital Market Conference 2026 in Abuja, Oyedele revealed that the Federal Government is considering the listing of selected state-owned enterprises.

“NNPC and good choice assets of government have to be listed because by doing that, we will actually get a minimum outcome and transparency will improve.

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“The Nigerian people who own this asset will share in the wealth,” noting that the government will encourage big firms operating in the country to be listed too.

“We would encourage and not force them. We will use incentives to attract them. It won’t be by stick because we want a free market where people can decide what they want to do. But we will make the capital market attractive.

“What matters is whether capital reaches productive businesses and whether ordinary Nigerians share in the return. And yes, the average Nigerian is at the center of this plan in many ways. Number one, long-term capital and liquidity for businesses, power plants, refineries, and railways-that will last for decades.

They will be financed with equity and long-term bonds, not short-term tax loans. A deeper market gives companies more ways to raise and refinance capital.

Also speaking at the event, the Chairman of the Senate Committee on Capital Market, Osita Izunaso, urged the Federal Government to encourage more companies, particularly the Nigerian National Petroleum Company Limited (NNPC) and telecommunications firms, to list on the Nigerian Exchange.

Izunaso said Nigeria had more than five million registered companies but only about 151 listed companies, highlighting the need to deepen the capital market and attract more businesses.

He argued that major companies operating in Nigeria should be encouraged to offer shares to the public, allowing citizens to participate in their growth while expanding the pool of funds available for investment.

The senator specifically questioned why NNPC and major telecommunications companies had not listed on the stock exchange, noting that such listings could increase market participation and strengthen domestic capital formation.

He also called on the SEC to accelerate the development of regulations for digital assets and tokenisation, saying delays in establishing a clear framework could limit the country’s ability to benefit from emerging investment opportunities.

Izunaso commended the enactment of the Investments and Securities Act 2025, describing it as an important foundation for investor protection, regulatory effectiveness and capital market development.

He urged stakeholders to ensure that implementation of the new master plan produced measurable results rather than remaining a policy document.

In his address, the Director General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama, said the Nigerian Capital Market Master Plan 2026–2036 was designed to deepen market participation, expand investment products and strengthen the integrity and infrastructure of the capital market.

He noted the initiative would position the market as a major source of financing for the Federal Government’s ambition of building a $1tn economy.