Tony Elumelu’s Seplat Stake Rises to an Estimated $1.28 Billion

Nigerian investor Tony Elumelu’s indirect 20.07% stake in Seplat Energy is now estimated at about $1.28 billion, following a sharp rise in the company’s share price. The stake, held through Heirs Energies and Heirs Holdings, comprises about 120.4 million Seplat shares. The shares were acquired for roughly $496 million in December 2025 and were valued at about ₦1.48 trillion as of September 1, 2026, based on Seplat’s closing price of ₦12,320.60 per share. This valuation applies to the Seplat holding, not necessarily Elumelu’s total personal net worth. However, it strengthens the case that he could return to Africa’s billionaire ranks. He is also due to become Seplat’s chairman on January 1, 2027.

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