The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has maintained that key government assets, such as the Nigerian National Petroleum Company Limited (NNPC Ltd) and Nigeria LNG Limited (NLNG), must be listed to boost transparency and wealth creation.
Oyedele disclosed this on Monday at the National Capital Market Conference 2026, attended by Nairametrics.
Nairametrics previously reported that NNPC had announced plans to advance its initial public offering (IPO) as it implements governance reforms and addresses financial reporting gaps identified by its advisers ahead of a potential capital market listing.
Speaking at the event, the minister said that, following government reforms, Nigeria’s gross domestic product (GDP) at purchasing power parity (PPP) stood at $2.4 trillion.
He described this as evidence of an economy waiting to take off and one that was already taking off.
Oyedele promised that the Federal Government would do everything necessary and take the lead in cleaning up NNPC ahead of its listing.
The minister also launched the National Savings Scheme, saying tax incentives would be provided within the ambit of the law, properly costed, and transparently administered to ordinary Nigerians.
Vice President Kashim Shettima, who was represented by the Deputy Chief of Staff to the President, Senator Hassan Hadeija, commended the Securities and Exchange Commission (SEC) for being intentional about strengthening enforcement, bringing digital assets within the regulatory perimeter, pushing for faster settlement, and defending the integrity of the Nigerian market before global index providers.
He assured the audience that the National Economic Council, which he chairs, would treat the master plan as a national initiative.
SEC Director-General Emomotimi Agama said the plan aims to grow 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 vision of a $1 trillion economy.
He told the audience that history would not judge the capital market by the height of its index, but by how many Nigerians it made owners, how many businesses it financed, and how many futures it secured.
NNPC’s preparations for a public listing come amid a decline in its financial performance in the first half of 2026, despite remaining profitable throughout the period.
According to financial data reviewed by Nairametrics, the company recorded a profit after tax of N2.28 trillion in the six months ended June 2026, representing a 35.4% decline from the N3.53 trillion reported in the corresponding period of 2025.
In August 2026, President Bola Tinubu charged NLNG management to turn the nation’s gas reserves into economic benefits after Nigeria flared more than 203.9 billion standard cubic feet of natural gas in 2025.
