By Oke Peter
Nigerian billionaire Tony Elumelu has seen the value of his stake in Seplat Energy climb above $800 million, driven by a strong rally in global oil prices and renewed investor appetite for West African energy assets.
The surge follows a strategic late-2025 deal in which Elumelu acquired a 20.07 percent stake from Maurel & Prom, making him the largest shareholder in Seplat. The transaction positioned his investment vehicle, Heirs Energies, at the center of one of Africa’s most significant locally backed oil deals.
Tony Elumelu
Shares of Seplat have risen more than 67 percent on the London Stock Exchange, pushing the company’s market capitalization to approximately £2.98 billion. The rally has been supported by improved production performance and heightened global supply risks, which have boosted oil sector valuations.
Financially, the company delivered strong results in 2025, with revenue more than doubling to $2.73 billion. Improved cash flow and a reduction in net debt highlight operational efficiency gains, particularly across its offshore production assets.
Elumelu further strengthened his influence over the company by joining Seplat’s board as a non-executive director in January, a move that underscores his growing role in shaping the strategic direction of one of Africa’s leading indigenous energy firms.
