Seplat Breaks Record as First NGX Stock to Surpass N10,000

Seplat Energy has set a new record on the, Nigerian Exchange Limited becoming the first listed company to exceed the N10,000 per share threshold.

The achievement follows renewed investor interest sparked by Nigeria’s reclassification by FTSE Russell, which has boosted sentiment around the country’s equities market.

The company’s share price climbed by 9.42 percent, adding N900 to close at N10,450, and extending a rally that has seen the stock rise by nearly 80 percent since the start of the year.

This milestone reinforces investor confidence in Seplat’s performance and places it firmly at the top of the market as the most highly priced stock on the exchange.

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The upward momentum can be traced back to late 2025, when Heirs Energies acquired a 20 percent stake in the company for $500 million, emerging as its largest shareholder.

The transaction involved the purchase of over 120 million shares at a premium price, signalling strong confidence in the company’s long-term prospects.

Market sentiment received an additional boost following FTSE Russell’s decision to classify Nigeria as a Frontier Market, a move expected to attract foreign investment and increase liquidity, particularly in large-cap equities.

Recent data highlights the scale of the rally, with the company’s market capitalisation rising significantly and its performance contributing meaningfully to gains in the broader market indices.

Seplat’s strong showing has also supported growth within the oil and gas sector, helping to lift overall market performance.

Analysts attribute the sustained rally to a combination of solid financial results, strategic expansion, and improved production capacity.

The integration of offshore assets previously owned by Mobil Producing Nigeria Unlimited has further strengthened the company’s operational capabilities and revenue outlook.

At the same time, its investments in gas infrastructure and energy transition projects continue to enhance its long-term positioning within Nigeria’s energy sector.