Seplat Energy Plc has made history on the Nigerian Exchange Limited (NGX), becoming the first listed company to cross the N10,000 per share mark.
The stock closed at N10,450 on Tuesday, April 14, 2026, after gaining N900 in a single trading session, an increase of 9.42 per cent. This milestone underscores strong investor confidence and highlights shifting dynamics within Nigeria’s energy sector.
On a year-to-date basis, Seplat’s share price has surged by 79.9 per cent, positioning it among the top-performing stocks on the exchange.
The rally comes amid renewed global interest in Nigerian equities following FTSE Russell’s decision to reclassify Nigeria from “Unclassified” to Frontier Market status, effective September 2026. The move is expected to attract foreign portfolio inflows into key stocks, including Seplat.
By crossing the N10,000 threshold, Seplat has firmly established itself as the most expensive stock on the NGX, outpacing other high-value equities such as Nestlé Nigeria and Airtel Africa.
The company’s strong performance is underpinned by robust financial growth in 2025, driven largely by its acquisition of Mobil Producing Nigeria Unlimited (now Seplat Energy Producing Nigeria Unlimited).
Seplat reported an 86.7 per cent increase in profit before tax to $497.8 million, up from $266.7 million in the previous year. Revenue rose by 144.2 per cent to $2.726 billion, reflecting a full-year contribution from its expanded asset base.
Investor sentiment has also been buoyed by strategic stake acquisitions. Tony Elumelu, through Heirs Energies, acquired a 20.07 per cent controlling stake in the company in late 2025, a move that has significantly boosted market confidence.
Seplat’s market capitalisation has now climbed to approximately N6.27 trillion, reinforcing its position as a dominant player in Nigeria’s oil and gas sector.
Analysts say the stock’s rally reflects a broader shift toward indigenous energy companies capable of delivering dollar-linked value in a volatile macroeconomic environment.
With earnings season approaching, market watchers expect continued volatility, but also sustained investor interest in fundamentally strong, high-performing stocks like Seplat.
