Tony Elumelu’s stake in Seplat Energy gained about ₦131.5 billion in market value on Thursday, after the energy company’s shares surged on the Nigerian Exchange. Seplat Energy closed trading on September 24 at ₦16,000 per share, up ₦1,092.20 or 7.33% from its previous close of ₦14,907.80. The Nigerian Exchange recorded the same closing price and daily gain.
Elumelu holds approximately 120.4 million Seplat shares, representing about 20.07% of the company. The stake is held indirectly through entities linked to Heirs Holdings and Heirs Energies, with Elumelu identified as Seplat’s largest disclosed shareholder.
At Thursday’s closing price, the 120.4 million shares were worth approximately ₦1.93 trillion. The previous closing price valued the same holding at about ₦1.79 trillion, meaning the one-day increase was approximately ₦131.5 billion. The calculation reflects a rise in the market value of the shares and represents an unrealised gain unless the shares are sold.
The latest jump adds to a substantial increase in the value of Elumelu’s Seplat holding this year. Seplat began 2026 at around ₦5,610 per share, compared with ₦16,000 at Thursday’s close.
The rally also comes as Seplat continues to attract strong buying interest in Nigeria’s energy sector. On Thursday, the NGX Oil & Gas Index rose 3.95%, with Seplat among the major contributors to the sector’s advance.
Elumelu is also a non-executive director of Seplat Energy, having joined the company’s board effective January 22, 2026. He is the founder and chairman of Heirs Holdings, which has interests across energy, power, banking, insurance and other sectors.
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