Tony Elumelu to Earn $14.45M from Seplat Energy Dividend

Nigerian billionaire businessman Tony Elumelu is scheduled to receive $14.45 million from Seplat Energy on August 28, 2026, following the company's declaration of a second-quarter interim and special dividend. This payment will bring Elumelu's total dividend income from Seplat Energy to about $35.3 million for the year.

Elumelu, who is the incoming chairman of Seplat Energy and also chairs Heirs Holdings and Transcorp Group, holds a 20.07 percent stake in Seplat Energy, acquired through Heirs Energies in December 2025. Seplat Energy declared an interim dividend of $0.05 per share and a special dividend of $0.07 per share, totaling $0.12 per share, with a company-wide distribution of approximately $72 million.

Elumelu's stake has increased in value to over $1 billion since its acquisition for $496 million. Seplat Energy reported a net income of $164 million for the first half of 2026, a 498 percent increase from the previous year, driven by higher production and improved pricing.