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Nigeria's Sahara Revives IPO Plan as It Looks to Pump More Oil

  • Sahara to boost production fourfold to 100,000 barrels a day
  • Co-founder Tonye Cole had to put IPO plans on hold in 2015

Nigerian energy conglomerate Sahara Group Ltd. said it revived plans for a share-sale as it looks to increase oil production four-fold to 100,000 barrels per day.

Lagos-based Sahara mulled an initial public offering in the Nigerian commercial capital and London in 2015, before falling crude prices forced it to backtrack.