Table of Contents
Key Points
- Austin Avuru’s 8.5% stake in Seplat fell $23.6 million in 2025 amid a nearly 13% share price drop on the Nigerian Exchange.
- Seplat’s Q1 2025 revenue soared 350% to $809.3 million, driven by higher output and asset integration from SEPNU acquisition.
- Despite strong earnings, Seplat’s market value slipped below $2 billion, pressuring investor returns including Avuru’s holdings.
Nigerian energy magnate Austin Avuru, co-founder of Seplat Energy, has seen a sharp decline in his wealth in 2025, as the market value of his stake in Nigeria’s largest listed energy firm has dropped significantly amid sustained selling pressure on the Nigerian Exchange (NGX).
Avuru’s Seplat stake falls $23.6 million
Avuru holds an 8.5 percent stake, amounting to 50.02 million shares, in Seplat, cementing his status as one of Nigeria’s leading investors in the oil and gas sector. Since the start of the year, the market value of this stake has fallen by N36.79 billion ($23.63 million), driven by a slump in the company’s share price.
This downturn follows an impressive gain of $53.56 million in 2024, when Avuru’s stake surged from N115.54 billion ($131.04 million) to N285.11 billion ($184.6 million), boosted by a triple-digit rise in Seplat’s share price and the effects of the naira’s devaluation.
Seplat soars, yet stock slips
Founded in 2009 by Nigerian energy magnates Austin Avuru and Ambrosie Orjiako, Seplat Energy has risen to become Nigeria’s largest listed energy group on the NGX, anchored by a dominant presence in the Niger Delta’s oil and gas sector.
In the first quarter of its 2025 fiscal year, the company posted impressive results, with revenue jumping 350 percent to $809.3 million. The boost came from higher oil and gas output and the integration of assets acquired from SEPLAT Petroleum Nigeria Unlimited (SEPNU).
But even with the strong earnings, Seplat’s stock hasn’t escaped market pressures. Its share price has slipped nearly 13 percent since the start of the year, from N5,700 ($3.66) on Jan. 1 to N4,964.4 ($3.19), pulling its market value below the $2 billion mark and chipping away at investor returns.
Avuru’s Seplat stake drops $23 million
Austin Avuru, co-founder of Seplat Energy, has seen the value of his 8.5-percent stake in the company fall by N36.79 billion ($23.63 million) since the start of the year. His holding, once worth N285.11 billion ($183.09 million) on Jan. 1, now stands at N248.32 billion ($159.46 million), based on the latest figures.
