Seplat Energy Achieves Historic Milestone on Nigerian Exchange
Seplat Energy Plc has made history by becoming the first company listed on the Nigerian Exchange (NGX) to surpass the five-digit share price threshold, reaching an unprecedented N10,450 per share. This landmark achievement occurred on Tuesday, April 15, according to official stock market data from the NGX.
Record-Breaking Performance
The energy company's share price surged by 9.42% from N9,550 recorded on Monday, continuing an impressive year-to-date rally. Since January 2, when Seplat shares traded at N5,610, the stock has gained a remarkable 86.27%, adding N4,840 in value per share.
This extraordinary performance has translated into substantial wealth creation for shareholders, with combined gains reaching N2.90 trillion. The company's market capitalization has correspondingly skyrocketed from N3.36 trillion to N6.26 trillion during the same period.
Market-Wide Bullish Momentum
The Nigerian stock market maintained its positive trajectory, with overall market capitalization crossing the N132 trillion mark for the first time. At the close of trading on Tuesday, market capitalization increased by N883 billion to reach N132.492 trillion.
The All-Share Index (ASI) advanced by 1,372.52 points, representing a 0.67% gain, to close at 205,831.38 points. This rally was primarily driven by significant gains in large- and mid-cap stocks, with Seplat Energy leading the charge alongside Nigerian Exchange Group, Stanbic IBTC Holdings, Lafarge Africa, and MeCure Industries.
Top Performers and Decliners
Market breadth remained positive with 40 gainers outpacing 21 decliners. Among the top performers:
- Stanbic IBTC Holdings Plc rose by 10.00% to N161.70 per share
- Ecobank Transnational Incorporated gained 10.00% to N50.60 per share
- Nigerian Exchange Group Plc advanced by 9.97% to N168.75 per share
- Cornerstone Insurance Plc appreciated by 9.94% to N5.64 per share
- MeCure Industries Plc increased by 9.92% to N67.60 per share
On the declining side, Fortis Global Insurance Plc led the losers with an 8.20% drop to N1.12 per share, followed by McNichols Plc which declined by 8.17% to N6.52 per share.
Trading Activity Surges
Trading volume experienced significant improvement, increasing by 21.13% to 569.309 million shares valued at N32.25 billion across 45,777 deals. Access Holdings Plc led volume trading with 67,529,821 shares worth N1.75 billion, while Zenith Bank Plc recorded the highest value trade with N4.5 billion worth of shares changing hands.
Strategic Investment Drives Growth
The remarkable surge in Seplat's share price follows a strategic investment made in December 2025, when Tony Elumelu, chairman of United Bank for Africa (UBA) and Heirs Energies, acquired a 20% stake worth $500 million in the company. Since that investment, Seplat's stock has climbed by N4,641 per share.
With its current market performance, Seplat Energy now ranks as the sixth most valuable company on the Nigerian Exchange, trailing behind Airtel Africa, BUA Cement, Dangote Cement, BUA Foods, and MTN Nigeria.
Regulatory Context
This market activity occurs against the backdrop of recent regulatory actions by Nigeria's Securities and Exchange Commission (SEC), which has ordered the freezing of assets belonging to 10 individuals and three entities allegedly linked to terrorism financing in the capital market. These entities were added to the Nigeria Sanctions List under the Terrorism (Prevention and Prohibition) Act, 2022.
The Nigerian stock market continues to demonstrate resilience and growth potential, attracting both domestic and international investors seeking opportunities in Africa's largest economy. The historic achievement by Seplat Energy represents a significant milestone in the development of Nigeria's capital markets and underscores the growing confidence in the country's corporate sector.
