The statement above does not just lie within the boundaries of the Nigerian National Petroleum Company, NNPC. It also lies in the hands of the Nigerian president. The article encouraged the president to make use of the strategies Saudi’s Crown Prince uses in privatizing a state oil corporation.
Nigeria has been trying to privatize NNPC for almost 20 years. The reason it has not taken hold is the not-so-good plans that were put in place. The writer of the article states that things could get better if Nigeria learns from Aramco, a state-owned oil giant in that country.
Here are some ways to make NNPC operate better.
1.
It should get an Initial Public Offering (IPO). This step is very important if the corporation wants to leap on to the international stage in business. Could it be another way to encourage more foreign direct investment in Nigeria? Maybe. And if it is, it will be bigger than most listed companies have at present.
A look at what Aramco achieved sums it up. The company raised more than 29 billion dollars and was valued at 1.7 trillion dollars.
Other important steps to take is to appoint new leadership to begin fostering new direction
- Nigerians are doing better, and the president has made a move to create Vision 2050 to succeed in the Vision 2020 thing. However, the country is also looking forward to setting the valuation number, and this may be hard for NNPC.