Business

NNPCL wants to build five LNG plants in Kogi

The Chairman, Senate Committee on Local Content, Senator Natasha Akpoti-Uduaghan disclosed this at the 13th Annual Practical Nigerian Content (PNC) forum

Published

2 years ago

December 6, 2024

OCHEFA

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The Nigerian National Petroleum Company Limited (NNPCL) is set to establish five mini-Liquefied Natural Gas (LNG) plants in Ajaokuta Local Government Area of Kogi in 2025.

The Chairman, Senate Committee on Local Content, Senator Natasha Akpoti-Uduaghan disclosed this at the 13th Annual Practical Nigerian Content (PNC) forum.

In a statement by her Chief Press Secretary Arogbonlo Israel, the Kogi Central lawmaker said the projects would be flagged off next year, describing them as the largest concentration of such projects in one senatorial district in the country.

Akpoti-Uduaghan said: “I would like to appreciate NNPC and the industry experts who have also considered and humbled us at Ajaokuta Local Government, with the (not too sure if it’s too early to speak about it), establishment of five mini LNG plants which will be flagged off early next year.

“This is actually the largest concentration of such projects in one district in the entire country. Five, not one, two, three, four, but five mini LNG plants will be established in Ajaokuta by God’s grace next year (2025).

“That’s good news for us, good news for Nigeria. So what does that mean?

This and many others are just pivotal, it’s important to know that if there’s any place in the country where we should situate a technology hub that will not only drive innovations but talk about the testing and brainstorming around the various kinds of metals and what these metals can do for the industry. It’s just Ajaokuta Local Government,“ she said.

Business

Naira Exchange Rates Thursday, 5 Nov 2026

Published

1 day ago

November 5, 2026

OCHEFA

106 Views

BLACK/ PARALLEL MARKET RATES

₦1400DOLLAR (USD)

₦1830POUND (GBP)

₦1515 EURO (EUR)

₦950 CANADIAN DOLLAR (CAD)

₦70 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED

₦190 Chinese YUAN (CNY)

₦100 Ghanaian CEDI (GHS)

West African CFA ₦2240 (XOF)

Central African CFA ₦2180 (XAF)

₦820 Australian Dollar AUSSIE (AUD)

Business

NNPCL wants to sell 10% equity via IPO on NGX, LSE

NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.

Published

2 days ago

November 4, 2026

OCHEFA

137 Views

The Nigerian National Petroleum Company Limited (NNPC Ltd.) is considering selling between 5% and 10% of its equity through a potential initial public offering (IPO), with the proposed listing expected to focus primarily on Nigeria’s domestic capital market.

The Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, disclosed this in an interview with Reuters on Tuesday, November 3, 2026, adding that the company could also pursue a secondary listing in London or New York.

The disclosure comes shortly after the Dangote Petroleum Refinery’s IPO closed on October 27, following a two-week extension of its subscription period from the initial October 13 deadline.

Ojulari indicated that raising additional capital would be a secondary consideration rather than the main reason for going public.

The company is also considering listing some of its subsidiaries separately, following a model adopted by Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates’ state-owned oil company.

Beyond the potential IPO, Ojulari disclosed that Chinese companies have expressed interest in acquiring equity stakes in some of NNPC’s smaller refineries, particularly the Port Harcourt and Warri facilities, which require substantial rehabilitation.