Tony Elumelu's Heirs Energy Acquires Major Stake in Seplat Energy for $500 Million

Tony Elumelu's Heirs Energy quietly acquired a 20.07% stake in Seplat Energy for $500 million, making him the largest shareholder. The deal, finalized in late December, also involved Afreximbank.

Seplat, an oil company operating in Nigeria, has significant reserves and daily oil production. The transaction with Maurel & Prom is one of the largest local-driven oil and gas investments in Nigeria, signaling a strategic move in the sector.