With confidence in its operational vision of africapitalism, Heirs Energies Limited has acquired 20.07 per cent equity stake in Seplat Energy Plc, in a transaction valued at approximately US$500 million, marking one of the most significant indigenous-led energy investments in Nigeria’s oil and gas sector in recent years.
Previously held by Maurel and Prom S.A, the acquisition covers 120.4 million ordinary shares in Seplat Energy, purchased at GBP 3.05 per share, and further consolidates Heirs Energies’ growing footprint in Nigeria’s strategic energy assets.
Industry observers say the deal underscores a broader shift toward greater indigenous ownership and control within Africa’s energy landscape, as local companies increasingly take the lead in financing and managing large-scale assets.
According to Heirs Energies, the transaction aligns with its long-term strategy to expand African participation across the energy value chain while supporting energy security, sustainable development, and industrial growth in Nigeria and across the continent.
Commenting on the acquisition, Tony Elumelu, Chairman of Heirs Energies, described the investment as a statement of confidence in Africa’s capacity to own and responsibly manage its natural resources.
He noted that the transaction reflects a long-term commitment to Nigeria’s and Africa’s energy future, adding that Seplat Energy has established a resilient and well-governed platform with strong growth prospects.
The deal was supported by two leading African financial institutions—Afreximbank and Africa Finance Corporation (AFC)—highlighting Africa’s increasing ability to structure and finance large-scale transactions internally, without reliance on external capital.
The acquisition is expected to further strengthen Seplat Energy’s shareholder base while reinforcing Heirs Energies’ position as a key player in shaping the future of Africa’s energy sector.
