BREAKING: Tony Elumelu’s $500 million Seplat stake now worth over $1 billion

Seplat Energy Plc, Nigeria's premier indigenous energy firm, has witnessed its market capitalization soar to $5.24 billion, with Heirs Holdings, Tony Elumelu's investment arm, now owning over $1 billion of the company. The influential investor acquired a 20.07% stake in Seplat during December 2025, purchasing 120.4 million shares from French energy firm Maurel & Prom for approximately $500 million.

At the current share price of N11,200.60 on the NGX and £6.47 on the LSE, the Heirs Holdings stake is now valued at an estimated $1 billion, more than doubling the initial investment in just eight months. This significant increase in value occurred shortly after Seplat's acquisition of Mobil Producing Nigeria Unlimited (MPNU), one of the largest transactions in Nigeria's energy sector.

Within the first week of trading in 2026, Seplat's share price surged by 6.2% to a new 52-week high, indicating market confidence in the company's strategic direction and expanded asset base. Over the subsequent months, the Heirs investment has continued to appreciate, solidifying its market position. However, the value of the Heirs investment is contingent upon Seplat's ongoing ability to generate production, manage costs, and convert its expanded asset base into sustainable shareholder returns.