NNPC becomes highest share capital in Nigeria

By Lola Smith

Published: October 9, 2021 | 9:12 AM GMT

The Corporate Affairs Commission (CAC) says the Nigerian National Petroleum Company Limited has made history by becoming the company with the highest share capital in the country.

Mr Garba Abubakar, the Registrar-General of the Corporate Affairs Commission, presenting the Certificate of Incorporation of the Company to President Muhammadu Buhari at the State House.
The Registrar-General of the Corporate Affairs Commission, Mr Garba Abubakar, revealed this in Abuja, Nigeria’s capital, while presenting the Certificate of Incorporation of the Company to President Muhammadu Buhari at the State House.

“The Company was registered electronically within 24hrs and had an initial share capital of 200 Billion Naira,” said Mr Abubakar.

President Muhammadu Buhari noted with delight the feat attained by the NNPC LIMITED and, therefore, charged the management of the company to ensure that it was adequately capitalized.

He pledged his continued support to the company, which he said was strategic to the economic development of the country and, therefore, prayed for its success.

It would be recalled that President Muhammadu Buhari had on 16th August, 2021 signed into law the Petroleum Industry Act (PIA), 2021.

About Lola Smith

Lola Smith is a highly experienced writer and journalist with over 25 years of experience in the field. Her special interest lies in journalistic writeups, where she can utilize her skills and knowledge to bring important stories to the public eye. Lola’s dedication to her craft is unparalleled, and she writes with passion and precision, ensuring that her articles are informative, engaging, and thought-provoking. She lives in New York, USA.