NNPC PROPERTIES LIMITED
As NNPC Owned Real Estate began to sprawl across the nation arising from its operations, it became pertinent to establish an entity to cater for its real estate needs. Property Investment Department (PID) was established in 1998 under the then Directorate of Commercial and Investment, to identify, acquire, develop, manage and advice NNPC Management on property business as a means of diversifying its revenue base locally and internationally.
In 1999, the GEC in its sitting of 14th September, resolved that PID should manage and maintain the Corporations entire income generating properties portfolio nationwide and in 2009, NNPC Properties Ltd was birthed. It is the commercial real property and infrastructure development subsidiary of NNPC, incorporated under the Companies and Allied Matters Act of 1990 as a company (RC. 832247) limited by shares.
NNPC Properties Limited will be a Global Investment vehicle of choice in the Real Estate sector
To identify, acquire, develop, manage and maintain investment potentials in the most profitable manner for NNPC, the Oil & Gas Industry, Associated Companies and the general public in the Real Estate
- Diversify NNPC Real Estate Investment portfolio into income generating venture.
- Emerge as fully sustainable business outfit
- Become a major player in the Nigerian Real Estate business.
- Development of a Real Estate Policy.
- Partnership with NNPC Pensions Ltd and 3rd Party Financiers on the redevelopment/ development of selected properties in Lagos and Abuja
- Architectural photography and documentation of all NNPC owned properties nationwide.
- 3rd Party Staff Housing Scheme
- Lease Administration of 3rd party space occupation in NNPC Properties nationwide
- Efforts to Secure Land Allocation in FCT for development
- Engagement with NNPC Pensions for the development and upgrade of their properties
- Efforts ongoing to recover encroached/encumbered Real estate assets.
- 3rd Party Housing Scheme for Staff
- Planning and development of 50 hectares land allocated for mixed use in Greater Port Harcourt District.
of a comprehensive electronic Asset
Database of all NNPC Properties
Block A, 7th Floor, NNPC Towers,
Herbert Macaulay Way,
Central Business District,
Garki - Abuja