The Nigerian government is looking to launch an initial public
offering for assets owned by NNPC, its national oil and gas company by
2018, Nigerian Minister of Petroleum Resources and head of NNPC,
Emmanuel Kachikwu said according to a Bloomberg report.
Included
in the initial public offering will be shares in NNPC’s refining and
distribution businesses, as well as “select” exploration and production
assets. The sale is expected to help the state-run firm clean up its
processes and run more efficiently.
NNPC will reorganize into four
more efficient business units, rather than the more than a dozen, which
are currently taking losses.
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