Seplat Energy Plc shares have risen to N14,907.80 on the Nigerian Exchange, reaching their highest recorded level on the local bourse.
The energy company’s stock closed at N14,907.80 on September 16, unchanged from the previous trading session, after gaining 10 per cent on September 10.
The latest price represents a sharp increase from the N5,610 recorded at the beginning of the year, putting Seplat’s year-to-date gain at about 166 per cent.
The stock has also risen by approximately 177 per cent over the past year, from N5,379 recorded a year earlier.
The recent rally comes amid disruptions in the global oil market linked to the ongoing US-Iran conflict, which has affected shipping activity through the Strait of Hormuz, a major route for global oil supplies.
The disruption has contributed to crude oil prices trading above $100 per barrel, although prices eased as concerns over some supply interruptions moderated.
Seplat’s strong performance has come alongside mixed movements among other oil and gas companies listed on the NGX.
Oando Plc, for example, fell from N38.30 on September 2 to N34 on September 16, while TotalEnergies Marketing Nigeria Plc remained at N576 during the period.
Conoil Plc also traded at N210, while Eterna Plc stood at N34.50. Aradel Holdings Plc, meanwhile, recorded price swings during the period, falling to N1,413 before recovering to N1,550.
Seplat’s financial performance has also strengthened its position in the market.
For the six months ended June 2026, the company reported a 74.1 per cent increase in profit before tax to N790.4 billion, compared with N454.1 billion in the corresponding period of 2025.
Revenue increased by 15.5 per cent to N2.50 trillion, while production rose to 139,509 barrels of oil equivalent per day.
The company’s production had also increased significantly in 2025, averaging 131,506 barrels of oil equivalent per day following the consolidation of its offshore assets and improved onshore output.
The rise in Seplat’s share price has also increased the value of major shareholders’ holdings.
Tony Elumelu, whose 120.4 million Seplat shares are held indirectly through Heirs Energies and Heirs Holdings, now has a stake worth approximately N1.79 trillion based on the latest share price.
This represents an increase of about N311.5 billion from the value of the holding at the beginning of September.
