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Nigerian energy mogul Austin Avuru, co-founder and former chief executive of Seplat Energy Plc, has seen the market value of his stake in the company climb past $200 million following a steady rise in Seplat’s share price on the Nigerian Exchange (NGX).
Avuru’s Seplat stake climbs to $202 million
Avuru, a respected figure in Nigeria’s oil and gas industry, holds 50.02 million shares in Seplat, making him one of the largest individual shareholders in the group. Over the past nine trading days, the market value of his holdings has increased from N269.07 billion ($184.05 million) to N295.97 billion ($202.45 million) — a gain of N26.91 billion ($18.4 million).
The latest jump builds on earlier gains recorded between June 17 and July 3, when his stake rose by about $15.84 million, from N248.32 billion ($162 million) to N272.60 billion ($171.73 million). The continued appreciation reflects renewed investor confidence in Seplat’s fundamentals and the broader oil and gas sector.
Seplat rises 10%, tops $2.4 billion
Avuru co-founded Seplat in 2009 alongside Ambrosie Orjiako, with a focus on developing Nigeria’s energy resources through efficient, locally driven operations. With operations in the Niger Delta it is one of Africa's leading independent oil and gas producers.
Its shares are listed on both the NGX and the London Stock Exchange, giving it a rare cross-border presence that connects African energy production to global capital markets.
In the past nine days alone, Seplat’s share price has gained about 10 percent, rising from N5,379.3 ($3.68) to N5,917.2 ($4.05) per share. That rally lifted its market capitalization to roughly $2.4 billion, solidifying its position as Nigeria’s most valuable listed energy company.
Seplat shares up 3.81% in 2025
Seplat shares have gained 3.81 percent year to date. A $100,000 investment at the start of 2025 would now be worth $103,810 at the time of drafting this report. Despite inflation and global market volatility, the stock's performance demonstrates investor confidence in Nigeria's domestic oil producers and highlights co-founder Austin Avuru's continued presence in the energy sector.
