A leading human rights and advocacy organization, the Peoples Wellbeing Association (PWA), has expressed support for the Nigerian National Petroleum Company Limited (NNPC Ltd) under the leadership of Engr. Bashir Bayo Ojulari, particularly regarding its plans for a potential Initial Public Offering (IPO) on major global exchanges, including New York and London.

The endorsement was made by the PWA’s Head of Communication Unit, Comrade Abba Abubakar, in a statement released Friday in Abuja.

Abubakar praised Ojulari’s vision and leadership, noting that the $20 billion Bonga Southwest deepwater development reflects growing investor confidence in Nigeria’s energy sector.

“Ojulari is repositioning NNPCL by focusing on transparency, financial sustainability, and workforce development to attract international investors,” Abubakar said.

He highlighted reforms under Ojulari’s stewardship, including leadership restructuring, operational integration, and gas expansion, aimed at making NNPCL globally competitive.

“The proposed IPO is not just about listing the company, but about building the right fundamentals, ensuring transparency, cost efficiency, and delivering world-class projects,” Abubakar added.

The PWA official described these IPO-driven reforms as a cornerstone in NNPCL’s strategy to overcome years of structural inefficiencies and opaque governance.

He commended Ojulari for initiatives that are already enhancing the company’s operational capacity and creating an investor-friendly environment.

“Nigeria’s deepwater assets represent a turning point after nearly two decades of stalled investments,” Abubakar said, noting that the reforms have restored investor confidence previously hampered by regulatory uncertainty and disputes with international partners.

The PWA reaffirmed its support for NNPCL’s IPO plan, emphasizing that the strategy aligns with broader goals of transparency, efficiency, and sustainable growth in Nigeria’s energy sector.