Nigerian energy magnate Bryant Orjiako’s Seplat rakes in $950 million in revenue in 2022
Orjiako and Austin Avuru are both credited with turning Seplat Energy into the largest listed company on the Nigerian Exchange.
Skip to content
Orjiako and Austin Avuru are both credited with turning Seplat Energy into the largest listed company on the Nigerian Exchange.
Orjiako and Avuru own a 6.43-percent and 8.2-percent stake in Seplat Energy, respectively.
Orjiako owns a 6.43 percent stake in Seplat Energy.
The payments were made to 18 firms linked to Orjiako and Avuru.
Seplat Energy is an independent oil and gas company.
As Seplat’s CEO, Brown was instrumental in completing the group’s dual listing on the Nigerian and London stock exchanges.
Orjiako and Avuru own a significant 6.43-percent and 8.2-percent stake in the leading energy firm, respectively.
The LSE’s statement comes just a few weeks after Orjiako retired as chairman.
The government cited overriding national interests as one reason for rejecting the $1.58-billion deal.
Orjiako’s stake in Seplat Energy is valued at $118.5 million.
Avuru owns an 8.2-percent stake in Seplat Energy through his family business, AAH Holdings.
Avuru is the founder of AAH Holdings, a Lagos-based proprietary investment business.
Seplat Energy is an independent oil and gas group with active operations and oil assets in Nigeria’s Niger Delta area.
Seplat Energy Plc is Nigeria’s largest energy group.
Orjiako said the proposed purchase is a game changer for Seplat Energy.
Seplat Energy is a leader on the Nigerian equity market and in the country’s energy sector.