A human rights and advocacy group, Peoples Wellbeing Association (PWA), has declared support for Engr Bayo Ojulari-led Nigerian National Petroleum Company Limited (NNPCL), groundwork for an Initial Potential Offering (IPO) listing on major global exchanges, including New York and London, aimed at engendering transformation to attract international investors.

The group’s Head of Communication Unit, Comrade Abba Abubakar, gave the commendation in a statement issued on Friday, April 3, in Abuja.

Abubakar saluted Ojulari’s leadership, ingenuity and vision for outlining plans to deploy Nigeria’s vast gas reserve to attract investors aimed at increasing revenue for expansion.

“The $20 billion Bonga Southwest deepwater development highlights growing investor confidence. Reforms, including leadership restructuring, operational integration, and gas expansion, aim to make NNPC globally competitive.

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

The PWA Communication Unit Head commended Bayo Ojulari for prioritising internal reforms, hailing him for a pivotal but deliberate approach towards an eventual Initial Public Offering.

According to Abubakar, Ojulari’s strategy is not just about listing, but about building the right fundamentals, transparency, cost efficiency, and world-class project delivery.

He described the proposed IPO reforms as a central pillar of NNPCL’s effort to reposition itself as a globally competitive energy firm, following years of structural inefficiencies and opaque governance.

Abubakar, who reaffirmed PWA’s support for NNPCL’,s IPO, said it is key to a sweeping reform agenda that includes leaders

hip restructuring and the integration of talent from international oil companies.

He commended Ojulari for initiating moves that are already strengthening the operational capacity of Nigerian National Petroleum Company Ltd (NNPC Ltd), through an improved investor-friendly policy.

The PWA Communication Unit Head hailed Ojulari’s project proposals like Nigeria’s deepwater assets, describing it as a turning point after nearly two decades of stalled investments.

Abubakar, however, gave kudos to Ojulari for restoring investor confidence, which was lost in the past occasioned by regulatory uncertainty and disputes with international partners.