Tony Elumelu Expands Wealth as Largest Shareholder in Seplat Energy Plc

Nigerian billionaire Tony Elumelu increases his wealth by acquiring a 20.07% equity stake in Seplat Energy Plc through his investment company, Heir Energy Ltd. The deal, completed on December 30, 2025, solidifies Elumelu's position as the largest shareholder in Seplat, a leading Nigerian independent energy company listed on the London Stock Exchange and Nigerian Exchange.

The acquisition further strengthens Elumelu's presence in the oil and gas sector. The transaction was supported by a $750 million financing arrangement from the African Export-Import Bank.