Elumelu’s Seplat stake surges past $1bn after strong share gains
Tony Elumelu’s investment in Seplat Energy has more than doubled, with his Heirs Holdings stake now valued at over $1bn. The company’s financial performance and share price have both seen significant growth. Seplat has expanded its assets and increased production following a major acquisition. Several key financial milestones were achieved in 2025 and the first half of 2026.
TLDR
- Heirs Holdings bought a 20.07% stake in Seplat from Maurel & Prom in December 2025 for about $500m.
- Seplat’s shares ended at N11,200.60 on the NGX, up from N5,809 at the end of 2025, gaining over 90% this year.
- In 2025, Seplat’s revenue jumped 144% to $2.73bn, and its total dividend increased by 52% to 25 cents per share.
- In the first half of 2026, revenue reached N2.50tn and profit before tax rose 74% to N790.4bn.
- Tony Elumelu joined Seplat’s board as a non-executive director in January 2026 and is expected to become chairman from 1 January 2027.
