In a major move for Nigeria’s energy sector, Heirs Energies, led by businessman Tony Elumelu, has acquired a 20.07% stake in Seplat Energy Plc for nearly $500 million.
This acquisition makes Heirs Energies the largest shareholder in Seplat, one of Nigeria’s top independent energy producers.
The deal, which was signed after markets closed on Tuesday, involved purchasing 120.4 million shares from French oil and gas firm Maurel & Prom.
The transaction was financed with support from leading African institutions, including the African Export-Import Bank (Afreximbank) and the Africa Finance Corporation (AFC).
In a statement, Tony Elumelu highlighted the deal as a long-term investment in Africa’s energy future and a reflection of his belief in the continent’s ability to own and manage its own strategic resources.
This acquisition comes as international oil companies are reducing their onshore presence in Nigeria, creating opportunities for local firms to step in.
