NNPC Becomes Highest Share Capital in Nigeria- CAC

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

The Registrar-General of the Corporate Affairs Commission, Mr Garba Abubakar, disclosed this in Abuja, 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,” Abubakar said.

President Muhammadu Buhari expressed his delight over the feat accomplish by the NNPC LIMITED and, urged the management of the company to ensure that it was adequately capitalized.

President Buhari assured of his continued support to the company, which he described as strategic to the economic development of the country.

Recall, President Muhammadu Buhari on 16th August, 2021 signed the Petroleum Industry Act (PIA), 2021 into law.