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Nigeria State Oil Company Holds First IPO by 2018: Minister

  • Government to sell stakes in fuel refining and distribution
  • State oil company being reoganized to prepare it for IPO

Nigeria plans to make its first initial public offering of assets owned by its national oil company in 2018, Petroleum Resources Minister of State Emmanuel Kachikwu said.

“It’s inevitable,” Kachikwu, who also heads the Nigerian National Petroleum Corp., said on Tuesday in an interview in Abu Dhabi. “Part of the cleaning up process that we’re doing is to prepare for that.”