Business
Seplat Energy Hits Record N10,450 in Bullish Surge
Seplat Energy Share Price Surge as firm becomes first NGX-listed company to cross N10,000 mark, driven by strong investor confidence and growth
Seplat Energy Plc has made financial history on the Nigerian Exchange (NGX), becoming the first listed company to surpass the five-digit share price threshold following a powerful rally driven by sustained investor confidence and strong market momentum.
Also read: Energy Tycoon Wale Tinubu Praises Otedola and Elumelu for Landmark Deals
Seplat closed trading on Tuesday at N10,450 per share, representing a 9.42 percent increase from the previous session’s N9,550, according to official data from the Nigerian Exchange.
Seplat Energy Share Price Surge marks a historic milestone in the Nigerian capital market, underscoring growing appetite for energy sector equities and reinforcing the company’s position as one of the exchange’s standout performers.
On a year-to-date basis, the stock has risen sharply by 86.27 percent, climbing from N5,610 at the beginning of trading on January 2 to its current record level, delivering significant gains to shareholders.
The rally has translated into an estimated N2.90 trillion increase in shareholder wealth within the period, reflecting what analysts describe as a sustained bullish run in the company’s valuation trajectory.
Seplat’s market capitalisation has also nearly doubled, rising from N3.36 trillion to N6.26 trillion, further cementing its status among Nigeria’s most valuable listed companies.
Market analysts attribute the upward momentum partly to heightened investor interest following a major acquisition in late 2025, when prominent Nigerian businessman Tony Elumelu acquired a 20 percent stake in the company valued at $500 million.
Since that transaction, Seplat’s share price has recorded an increase of more than N4,600, further boosting market sentiment around the stock.
Despite its record-breaking performance, Seplat currently ranks as the sixth most valuable company on the NGX, behind major players such as Airtel Africa, BUA Cement, Dangote Cement, BUA Foods, and MTN Nigeria.
Also read: Oando Plc Records 44% Revenue Surge to N4.1 Trillion in FY 2024, Eyes 100,000 Bopd Target
The development highlights the deepening sophistication of Nigeria’s equities market and reinforces Seplat’s growing influence within the energy sector.
Dangote Petroleum Refinery has set its initial public offering price at ₦525 per share, with the company seeking to raise about ₦2.15 trillion as it prepares to enter Nigeria’s public equities market.
The Securities and Exchange Commission has approved the offer for 4.1 billion ordinary shares at ₦525 each. If fully subscribed, the offer would generate approximately ₦2.15 trillion, equivalent to about $1.6 billion at current exchange rates.
The offering is expected to open on 14 September 2026, according to Aliko Dangote, the president of Dangote Industries. The planned sale is positioned to become one of the largest equity offerings in Africa.
The IPO marks a significant step in Dangote Group’s plans to broaden ownership of the refinery and raise additional capital for expansion.
The refinery currently has a stated processing capacity of 650,000 barrels of crude oil per day. Dangote has said the company plans to increase that capacity to 1.4 million barrels per day as part of its longer-term expansion strategy.
The planned share sale follows a $1 billion underwriting programme completed in August, providing additional financial backing ahead of the public offering.
The refinery, located in the Lekki area of Lagos State, is one of Africa’s largest industrial projects and has become an increasingly important player in Nigeria’s fuel supply market since beginning operations.
The public offering will give Nigerian investors an opportunity to acquire shares in the refinery directly, while providing Dangote Petroleum Refinery with fresh capital to support its next phase of growth.
The company has also indicated ambitions to expand beyond its current Nigerian operations, with Dangote recently announcing plans for another refinery project in Kenya.
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