Seplat Energy Plc has crossed the N10,000 per share mark, becoming the first listed company on the Nigerian Exchange Limited to reach a five-figure valuation.
The stock surged to N10,450 at the close of trading on April 14, 2026, marking a major milestone that reflects the company’s strong growth and changing dynamics within Nigeria’s energy sector.
Seplat gained N900 in a single session, representing a 9.42 percent increase. Year-to-date, the stock has risen by 79.9 percent, with analysts projecting further upside alongside other major market movers.
The rally follows a key development by FTSE Russell, which upgraded Nigeria from “Unclassified” to Frontier Market status, effective September 2026. The move is expected to attract global passive funds back into Nigerian equities, including Seplat.
By surpassing the N10,000 threshold, Seplat now ranks as the most expensive stock on the exchange, outperforming blue-chip companies such as Nestlé Nigeria and Airtel Africa.
Investor confidence has been driven by the company’s strong operational performance and strategic expansion. In 2025, Seplat recorded significant financial growth following the acquisition of Mobil Producing Nigeria Unlimited, now Seplat Energy Producing Nigeria Unlimited.
The company reported profit before tax of $497.8 million, representing an 86.7 percent increase from $266.7 million in the previous year. Gross profit rose by 156.4 percent to $904.5 million, while revenue climbed 144.2 percent to $2.726 billion, supported by offshore asset contributions.
Market momentum has also been linked to Tony Elumelu, whose Heirs Energies acquired a 20.07 percent stake in Seplat in late 2025. Since the deal, the stock has appreciated by nearly 80 percent.
Read also:
- National Grid under pressure as Seplat Gas maintenance may cut power supply
- Seplat ends empowerment program for media practitioners in Edo/Delta
- Delta, Seplat pledge stronger partnership for oil, gas development
Seplat’s market capitalisation now stands at approximately N6.27 trillion, contributing to a broader rally in the Nigerian stock market. The All Share Index reached a record 205,831.38 points, while total market capitalisation climbed to N132.492 trillion, with year-to-date returns at 32.32 percent.
Analysts at CardinalStone Research noted that the Oil and Gas and Commodities indices led market gains, supported largely by Seplat’s performance.
Vetiva Research analysts described Seplat as the key driver of the trading session, citing strong investor demand and expectations of robust earnings.
They added that as earnings season approaches, investors are increasingly positioning in fundamentally strong stocks, with activity in the oil and gas sector indicating confidence in upcoming corporate results.
