Seplat Energy has made history as the first company listed on the Nigerian Exchange Limited to cross the N10,000 per share threshold.On Tuesday, the company’s stock rose to N10,450, marking a 9.42% increase from the previous day’s close. This surge lifted its market capitalisation from N5.73 trillion on Monday to N6.27 trillion, based on NGX data. Year-to-date, the stock has climbed 79.89%, up from N5,809 at the end of 2025.
The strong rally follows a significant ownership change involving Tony Elumelu. His company, Heirs Energies, acquired a 20.07% stake in Seplat from Maurel & Prom in a deal worth about $496 million, making it the largest shareholder in the firm. At the time the deal was announced, Seplat’s share price stood at N5,809 on December 31. Since then, the stock has surged by nearly 80%, boosting both the company’s valuation and investor confidence on the Nigerian stock market.
Earlier in the year, the stock had already gained about 57% to reach N9,099.90, driven by increased trading activity and renewed interest from institutional investors. Overall, the post-acquisition rally ranks among the most significant gains recorded by an energy stock on the NGX in recent years.
Seplat Energy operates mainly in Nigeria’s Niger Delta region and is dual-listed on both the NGX and the London Stock Exchange. The company currently produces about 286,000 barrels of oil equivalent per day, while Heirs Energies contributes roughly 70,000 barrels per day. Together, both firms now have a combined daily production capacity of around 356,000 barrels of oil equivalent, including 266,000 barrels of oil per day and 490 million cubic feet of gas per day.
Source: https://businessday.ng/
