Elumelu's Seplat Stake Surges to N1.79 Trillion in Value

Tony O. Elumelu’s stake in Seplat Energy Plc has increased by approximately N311.5 billion over a span of two weeks, now valued at around N1.79 trillion due to a rise in the company's share price on the Nigerian Exchange Limited (NGX).

Elumelu holds 120.4 million shares, representing 20.07% of Seplat, making Heirs Group the largest disclosed shareholder. The share price rose from N12,320.60 on September 1 to N14,907.80, contributing to a total increase of about N426.7 billion since the end of June.

Additionally, Seplat declared a N165.50 per-share interim dividend for H1 2026, from which Elumelu's gross entitlement is approximately N19.92 billion. Elumelu's involvement with Seplat dates back to a significant transaction completed at the end of 2025, and he is set to become Chairman on January 1, 2027, succeeding Senator Udoma Udo Udoma, while Engr. Effiong Okon will serve as CEO.

The share price increase is attributed to stronger earnings and a larger production base.