Skip to content
The transaction, which covers 87.3 percent of the outstanding amount, is part of a broader plan to streamline its capital structure and ease debt obligations.
As part of the refinancing process, Seplat has also launched a tender offer allowing investors to sell back their 2026 notes before the March 18, 2025, deadline.
The company’s capital expenditure guidance for 2025 includes between $180 million and $220 million allocated to its Seplat Onshore division.
Seplat Energy targets 14 trillion cubic feet of gas to boost Nigeria’s energy security, expand crude output, and drive economic growth through strategic acquisitions.
This comes despite the naira devaluation, reflecting the resilience of Nigeria’s energy sector.
The deal strengthens Seplat’s leadership in the country’s energy sector and enhances its global standing.
Seplat Energy led a $228-million rally in the Nigerian equity market, with its stock surging 9.99 percent and boosting investor confidence across the board.
The $1.3-billion transaction initiated in 2022 had faced delays due to Nigeria’s stringent legal landscape and approval bottlenecks.
Investor confidence remains shaky due to ongoing legal and regulatory issues.
The announcement coincides with Seplat celebrating its rise from a vision shared by co-founders Ambrosie Bryant Chukwueloka Orjiako and Avuru to a prominent African energy player.
Since its IPO on the Nigerian Exchange and London Stock Exchange in 2014, Seplat Energy has generated $1.7 billion in cash flow.
As one of the founders and former directors of the Lagos-based energy conglomerate, Avuru owns a significant 8.2-percent stake in Seplat Energy.
Billionaires.Africa has cataloged companies owned by and linked to Avuru. Here are five companies under his direct or indirect ownership.
Orjiako and Avuru are the founders of Seplat Energy.
Orjiako and Avuru own a 6.43-percent and 8.2-percent stake in Seplat Energy, respectively.
