Seplat Energy shares surge to record N14,907.80 on NGX, up 165% YTD
Seplat Energy shares closed at N14,907.80 on the Nigerian Exchange on September 16, a new record level after a 10% rise over the last 10 trading days from N13,552.60. The stock has more than doubled this year, gaining 165.9% year-to-date and 177.1% over the past 12 months, driven by strong financial results and global oil market disruptions.
This matters to investors because the rally has created substantial paper wealth: Tony Elumelu’s indirect stake of 120.4 million shares grew from N1.48 trillion to N1.79 trillion in just over two weeks, a gain of N311.5 billion (~$1.28 billion). Seplat’s half-year 2026 profit before tax jumped 74.1% to N790.4 billion on revenue of N2.50 trillion and output of 139,509 barrels of oil equivalent per day.
While Seplat rises, other NGX-listed oil stocks show mixed performance: Oando fell 11.2% from its September peak, TotalEnergies Marketing holds steady at N576, Conoil at N210, Eterna slipped 4.17%, and Aradel remains volatile. With global supply concerns keeping crude above $100 a barrel, will you hold Seplat for further gains, buy on dips, or take profits amid the sector’s uneven movement?