May 30, 2024

Seplat Energy commemorates decade of dual listing with bell ringing at NGX

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Ilenre Irele

Seplat Energy Plc has commemorated a major milestone in its life -a decade of its dual listing on both the Premium Board of the NGX and the Main Market of the London Stock Exchange, LSE.

It celebrated the milestone with the ringing of bell at the Nigerian Exchange, NGX.

The celebratory event,graced by representatives from Seplat Energy, the NGX, the Nigerian government, and other institutional partners, hallmarked a decade of strategic partnership and commitment to excellence in the energy sector.

In his speech at the anniversary, Mr. Roger Brown, CEO, Seplat Energy, expressed delight over the feat, reiterating Seplat Energy’s commitment to leading Nigeria’s energy transition, adding that the power of indigenous companies is to bring growth and prosperity to their home countries and the people.

“One example of how Seplat Energy is making an enduring difference to Nigeria and host communities where we operate is that nearly $50m had been invested by our Joint Venture partnerships in communities since our inception to date,” Brown said.

“Truly, Seplat Energy has delivered significant value by enhancing strategic, operational and financial achievements in 10 years as a listed company,” he added.

In his comments, Mr. Temi Popoola, CEO, NGX Group, emphasised the significance of Seplat Energy’s decade of dual listing stating: “If we were to look back to our market and tried to find landmarks, the last major landmark you will find in the last ten years is this transaction that we are celebrating today, and the market is very grateful for that.”

Congratulating Seplat Energy on this milestone, Alhaji (Dr.) Umaru Kwairanga, NGX Group Chairman, highlighted the importance of partnerships between the NGX and companies like Seplat Energy in driving economic growth and development.

“Selat’s journey symbolises resilience, innovation, and a commitment to excellence, making them a beacon of corporate governance and operational expertise. Seplat Energy has emerged as a leading indigenous energy company, deeply integrated into Nigeria’s economic landscape and the NGX Group remains committed to supporting companies like Seplat Energy as they drive economic growth and contribute to our nation’s prosperity,” he said.

Reflecting on the significance of the decade of dual listing, Mr. Udoma Udo Udoma, Board Chairman, Seplat Energy remarked: “Seplat Energy is committed to driving Nigeria’s transition to sustainable and affordable energy, harnessing its power to improve lives by transforming the economy. We have ambitious goals. We are investing in Nigeria. We will support the federal government’s energy transition policy, and we will partner with FG in whatever area they want us to do so. That is our commitment. We will grow Seplat while also maintaining the highest standard of corporate governance.”

Also commending Seplat Energy on the decade of listing, Jude Chiemeka, Acting CEO, NGX stressed the importance of the capital market in helping companies raise funds and creating wealth for all.

“Seplat Energy was listed at 576 Naira at listing and yesterday it closed at 3,370 which is an increase of over 484%. The figures show that in the last 10 years, the company has paid out $575m in dividend payments to shareholders in Nigeria and London where they are also listed, so this company has given investors a huge opportunity to really participate in wealth creation. Reports show that Nigeria would be among the top 20 countries in the next 25 years, and I think Seplat is poised to be one of the institutions driving growth, prosperity, and inclusion in our nation,” he said.

Also gracing the closing gong ceremony was Sen. Heineken Lokpobiri, Minister of State, Petroleum Resources (Oil), who gave kudos to Seplat Energy on their laudable achievements while also assuring of the Federal Government’s commitment to providing support to the company.

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