Tony Elumelu, Heirs Group Chairman’ indirect stake in Seplat Energy Plc has compounded to approximately N1.48 trillion ($1.28 billion), following a further increase in the Oil and Gas giant’s share price.
Elumelu’s interest, held through Heirs Energies Ltd and Heirs Holdings Ltd, is based on 120.4 million Seplat shares, representing a 20.07 percent stake in the company. At Seplat’s closing share price of N12,320.60 on Tuesday, September 1, 2026, the holding was worth approximately N1.48 trillion.
The latest valuation represents an increase of about N114 billion from the N1.37 trillion value of the stake at June 30, 2026, when Seplat’s shares closed at N11,363.90. The increase represents an 8.4 percent rise in the value of Elumelu’s holding in just over two months.
According to Seplat’s ownership disclosures, the Heirs Group entities are controlled by Elumelu and members of his family, making the businessman the company’s largest disclosed shareholder.
Heirs Group accounted for the largest portion with its 120.40 million shares, equivalent to 20.07 percent. Petrolin Group followed with 81.02 million shares, representing 13.50 percent, while Professional Support held 50.02 million shares, or 8.34 percent. Sustainable Capital owned 37.12 million shares, equivalent to 6.19 percent.
Elumelu’s position in Seplat dates back to December 31, 2025, when Heirs Energies entered into a binding agreement with French oil and gas company Maurel & Prom to acquire its entire 20.07 percent stake in Seplat.
Elumelu subsequently joined Seplat’s board after being elected as a Non-Executive Director at the company’s 13th Annual General Meeting on May 20, 2026.
In June, Seplat…
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