The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has maintained that key authorities belongings, such because the Nigerian National Petroleum Company Limited (NNPC Ltd) and Nigeria LNG Limited (NLNG), should be listed to boost transparency and wealth creation.
Oyedele disclosed this on Monday on the National Capital Market Conference 2026, attended by Nairametrics.
Nairametrics beforehand reported that NNPC had introduced plans to advance its preliminary public providing (IPO) because it implements governance reforms and addresses monetary reporting gaps recognized by its advisers forward of a possible capital market listing.
Government alternative belongings should be listed
Speaking on the occasion, the minister stated that, following authorities reforms, Nigeria’s gross home product (GDP) at buying energy parity (PPP) stood at $2.4 trillion.
He described this as proof of an economic system ready to take off and one which was already taking off.
- “By the time inflation comes down to single digits, interest rates follow at single digits, we’re growing at 4.43%, borrowing at 30%, imagine what would happen when businesses borrow at single digits. And that’s what we’re getting to now,” he stated.
- “So by the time we become a $1.5 trillion economy, our capital market cannot and should not be less than $1 trillion,” he added.
Oyedele promised that the Federal Government would do every thing mandatory and take the lead in cleansing up NNPC forward of its listing.
- “If we clean up the NNPC and list the NNPC, do you know that NNPC is worth more than the entire capital market value that we have today in Nigeria?” he requested.
- According to him, “NNPC, NLNG, those choice assets of government have to be listed because, by doing that, I believe that we will actually get a win-win outcome.”
He highlighted that NNPC is value greater than 10% of Saudi Aramco.
- “Saudi Aramco is worth $1.6 trillion. So just give NNPC 10% of that, that’s $160 billion,” he stated, urging stakeholders not to be restricted in pursuing the nation’s capital market ambitions.
- He defined that listing authorities belongings would “improve transparency, allow Nigerians who own these assets to share in the wealth, and deepen the capital market.”
The minister additionally launched the National Savings Scheme, saying tax incentives could be offered throughout the ambit of the legislation, correctly costed, and transparently administered to peculiar Nigerians.
NEC to deal with SEC plan as nationwide initiative – Shettima
Vice President Kashim Shettima, who was represented by the Deputy Chief of Staff to the President, Senator Hassan Hadeija, recommended the Securities and Exchange Commission (SEC) for being intentional about strengthening enforcement, bringing digital belongings throughout the regulatory perimeter, pushing for quicker settlement, and defending the integrity of the Nigerian market earlier than international index suppliers.
- “When regulation is firm, fair, and forward-looking, capital stays, and under the watch of this board and management team, capital not only stayed, it multiplied for the benefit of investors and the country,” he stated.
He assured the viewers that the National Economic Council, which he chairs, would deal with the grasp plan as a nationwide initiative.
- He added that the council would work with the fee to be certain that each state understands how to use the market responsibly by means of well-structured bonds, credible challenge pipelines, and the transparency buyers demand.
- He acknowledged that the finances alone couldn’t shut the nation’s infrastructure hole, which is measured in trillions of {dollars}, highlighting that overseas borrowing couldn’t be the one possibility.
- Shettima subsequently launched the plan and inaugurated its Project Steering Committee and the Capital Market Master Plan Implementation Committee.
SEC Director-General Emomotimi Agama stated the plan goals to develop the market from a baseline of about N250 trillion to N750 trillion by 2036, making the capital market a principal financier of the President’s imaginative and prescient of a $1 trillion economic system.
He advised the viewers that historical past wouldn’t decide the capital market by the peak of its index, however by what number of Nigerians it made house owners, what number of companies it financed, and what number of futures it secured.
NNPC revenue falls 35% in H1 2026
NNPC’s preparations for a public listing come amid a decline in its monetary efficiency within the first half of 2026, regardless of remaining worthwhile all through the interval.
According to financial data reviewed by Nairametrics, the corporate recorded a revenue after tax of N2.28 trillion within the six months ended June 2026, representing a 35.4% decline from the N3.53 trillion reported within the corresponding interval of 2025.
- NNPC started 2026 with a revenue of N385 billion in January earlier than earnings declined to N136 billion in February, its lowest month-to-month consequence through the interval.
- Profit recovered to N276 billion in March and elevated additional to N481 billion in April.
- Although earnings moderated to N462 billion in May, they rebounded to N535 billion in June, the corporate’s strongest month-to-month efficiency within the first half of 2026.
- The figures introduced NNPC’s cumulative first-half revenue to roughly N2.28 trillion, representing a decline of N1.25 trillion in contrast with the corresponding interval of 2025.
In August 2026, President Bola Tinubu charged NLNG management to flip the nation’s gasoline reserves into financial advantages after Nigeria flared greater than 203.9 billion customary cubic ft of pure gasoline in 2025.
