Acquisition of Mobil ‘ll raise investors’ confidence’


The Chief Executive Officer, Nigerian Stock Exchange (NSE) Mr. Oscar Onyema, has expressed confidence in NIPCO’s ability to ensure continuous investors interest in the capital market following its 60 per cent stake acquisition in Mobil Oil Nigeria (MON).

Onyema who gave the assurance during a courtesy visit with its management team to NIPCO’s office in Apapa, Lagos described the deal as one of the largest acquisitions in the downstream sector.

He said the strategic acquisition will enhance the company’s continuous growth and expansion as well as add increased value to investor and other stakeholders in the country. Onyema said: “At the exchange, we are keen to support businesses to achieve greater success so that they can thrive within the enabling environment as well as provide organisations with various opportunities to fund their long term objectives.”

The NSE CEO said NIPCO, as a critical stakeholder, needed all the support with various initiatives and opportunities available via the capital market to enable it excel in the sector.

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