Seplat hits all-time high, surges to N16,000 per share

Seplat Energy Plc's shares reached an all-time high of N16,000 per share on the Nigerian Exchange Limited (NGX) on September 24, marking a 7.33% increase from the previous trading session. This surge has seen the stock rise by 175.44% year-to-date, making it the highest level recorded on the NGX. The energy company's shares have gained 197.44% over the past year, extending a rally that began in early 2026.

This surge has boosted Seplat's market capitalization to N9.599 trillion, while the NGX Oil/Gas Index has climbed to 237.6 points, a 3.95% increase to close at 6,252.0. The move is attributed to the rise in global oil prices due to renewed geopolitical tensions, with Brent crude reaching over $106 per barrel and West Texas Intermediate near $94 per barrel.

Seplat's recent performance is backed by stronger financial and operational results in the first half of 2026, with profit before tax reaching N561.3 billion in the second quarter. The company also reported a significant increase in production capacity, with group production averaging 131,506 barrels of oil equivalent per day in 2025, up 148% from the previous year.