Heirs Energies Limited, an indigenous energy company led by billionaire investor Tony Elumelu, has acquired an additional 6,000,000 ordinary shares in Seplat Energy Plc. This purchase, made on the London Stock Exchange on September 30, 2026, at a unit price of £8.87 per share, brings Heirs Energies’ direct holding in Seplat to 27,943,867 ordinary shares. The acquisition underscores growing confidence in Nigeria’s energy sector among domestic institutional investors.
When combined with the existing holdings of Heirs Holdings Limited, another investment vehicle controlled by Elumelu, entities affiliated with the business mogul now control an aggregate of 126,400,000 ordinary shares. This represents a significant increase in Elumelu’s stake in Seplat Energy Plc. The acquisition highlights the strategic importance of Seplat, one of Nigeria’s leading independent oil and gas producers, in the country’s energy landscape.
The transaction brings Elumelu’s total combined voting interest to 21.07% of Seplat Energy Plc’s 599,944,561 issued ordinary shares. This development comes at a pivotal period for Seplat, as indigenous operators increasingly step up to drive energy security and asset optimisation amid ongoing portfolio realignments by international oil companies across the Niger Delta basin.
The acquisition is in line with international capital market standards, and Seplat Energy Plc has made the necessary filings with the Nigerian Exchange Limited and the London Stock Exchange. According to the Director of Legal and Company Secretary at Seplat Energy Plc, the notification was made in accordance with relevant regulatory requirements.
The strategic expansion by Heirs Energies Limited is a significant development in the Nigerian energy sector, reflecting growing investor interest and confidence in the sector. Seplat Energy Plc is a major player in the country’s oil and gas industry, and the increased stake by Heirs Energies Limited underscores the importance of the company in driving energy security and growth.
The formal filing was signed on behalf of Seplat Energy Plc by Mrs Edith Onwuchekwa, who served as the duly authorised officer responsible for submitting the regulatory notice. The acquisition is a notable transaction in the Nigerian energy sector, and its implications are being closely watched by industry stakeholders.
The increased stake by Heirs Energies Limited in Seplat Energy Plc highlights the growing role of indigenous investors in Nigeria’s energy sector. The development is expected to have a positive impact on the sector, driving growth and investment in the industry.
Key points
- Heirs Energies Limited, chaired by Tony Elumelu, has increased its stake in Seplat Energy Plc to 21.07% through affiliated entities.
- The acquisition reflects growing confidence in Nigeria’s energy sector among domestic institutional investors.
- The transaction is in line with international capital market standards and relevant regulatory requirements.
