Seplat energy wins governance award as share price tops N10,000

By Chukwuma Umeorah

Seplat Energy Plc has secured a top corporate reporting award as its share price crossed the N10,000 threshold on the Nigerian Exchange, reflecting increased investor demand and improved market perception of its governance and earnings outlook.

The company’s stock rose to about N10,450 on April 14, becoming the first listed firm on the Nigerian Exchange Limited to trade above the N10,000 mark. Market participants attributed the movement to institutional buying linked to expectations of stronger cash flows following recent asset expansion.

Separately, Seplat ranked first overall at the Corporate Reporting Awards organised by the Institute of Chartered Accountants of Nigeria (ICAN) in partnership with NGX Regulation Limited (NGX RegCo), receiving the Platinum Award. The assessment covers financial reporting quality, corporate governance and sustainability disclosures, with emphasis on compliance and transparency.

Analysts said such recognition could reduce perceived governance risk for companies accessing both domestic and international capital markets, particularly those with dual listings.

In a separate ranking, Seplat entered the top 10 most valuable brands in Nigeria for the first time, placing ninth in the 2026 report by Brand Finance. The firm recorded the fastest growth among ranked companies, with brand value rising 97 per cent to N194.5 billion.

“Standout growth from Seplat Energy shows that the market continues to reward operational discipline and strong strategic positioning,” Brand Finance Nigeria Managing Director Babatunde Odumeru said in the report.

The company also received industry recognitions for corporate social responsibility and overall performance at separate sector awards, reflecting its community-focused initiatives and operational footprint.

Chief Executive Officer Roger Brown had earlier said expansion into offshore operations alongside onshore production had strengthened cash flow and reduced borrowing costs.

Seplat has indicated plans to deliver a cumulative $1 billion return of capital to shareholders by 2030, while balancing investment in growth and energy transition objectives. The company remains listed on the premium board of the Nigerian Exchange and the main market of the London Stock Exchange.