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A stock broker, Mr David Adonri, says the anticipated listing of the Nigerian National Petroleum Company (NNPC Ltd.) on the Nigerian Exchange Ltd. (NGX) will unlock global capital and enable it to surpass President Tinubu’s $60 billion investment goal by 2030,
President Bola Tinubu, upon reconstituting the leadership of the company, tasked it to increase the company’s investment base to 30 billion dollars by 2027 and 60 billion dollars by 2030.
Adonri, in an interview with the News Agency of Nigeria (NAN) on Wednesday, said that the listing would provide NNPC with access to global investment capital.
The Vice President of Highcap Securities, said the move would also empower NNPC to not only meet the goal but help to drive the company’s growth and expansion.
The expert described the
60 billion dollars target as “conservative,” considering the vast capital that could be accessed from the global market.
He predicted that the NNPC could potentially raise three to five times its target if it presents a compelling value proposition to investors worldwide.
“The major benefit of investing in the capital market is to have access to investment capital sourced from across the world because of the wide reach of capital markets.
“We know right now that any investor with a handheld mobile device from anywhere in the world can invest in Nigerian securities, especially through public offerings, as a result of the technology that the Nigerian Exchange has deployed.
“So, the listing will enhance or facilitate their capacity to raise money from the global investing public to meet all their growth and expansion plans.
“The target that has been given to them appears very conservative because the kind of capital that can be accessed from the global capital market is very huge and if they have a very good value proposition to investors from around the world, they can actually raise three, four, or five times what they have been told to target.
“So, their coming to list is a big impetus for them to be able to achieve their capital raising objectives,” he said. (NAN)
