Seplat Energy Plc has made history on the Nigerian Exchange by becoming the first company to close above N10,000 per share in its 65-year history. The stock ended trading on April 14, 2026, at N10,450, marking a sharp rally driven by renewed investor confidence following a major investment by Heirs Energies, backed by Mr Tony Elumelu.
The surge follows a transaction completed in December 2025, when Heirs Energies acquired a 20.07 per cent stake in Seplat Energy valued at about 500 million dollars, making it the company’s largest shareholder. Mr Tony Elumelu later joined the board of Seplat Energy as a Non-Executive Director in January 2026, with the value of the investment now estimated at over 800 million dollars.
Market analysts have linked the sustained rally to investor confidence in Mr Tony Elumelu’s track record, pointing to his leadership at United Bank for Africa and Transnational Corporation of Nigeria. The company’s strong 2025 financial performance also supported the growth, with revenue rising to 2.73 billion dollars and profit before tax reaching 497.8 million dollars, alongside increased production levels.
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The rally has lifted broader market indicators, with the Nigerian Exchange All Share Index hitting a record high, while the Oil and Gas Index also recorded gains. Analysts say Nigeria’s expected reclassification to Frontier Market status by FTSE Russell could attract significant foreign inflows, further boosting investor interest in Seplat Energy and the wider capital market.
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