Seplat Shares Fall on First Trading Day After Heirs Energies’ Acquisition

The share price of Seplat Energy, a major Nigerian oil independent, dropped by 3.43 percent on Friday, the first trading day after Heirs Energies announced its acquisition of the 20.07% equity stake previously held by Maurel & Prom S.A. (M&P) in Seplat for almost $500 million.

Heirs Energies, an indigenous integrated energy company owned and chaired by billionaire Tony Elumelu, has replaced the French oil firm M&P as the biggest shareholder in Seplat, which is listed in both Nigerian and London stock exchanges.

Seplat’s market capitalisation fell to N3.36 trillion from N3.48 trillion at the end of 2025, with its share price dipping to N5,610 apiece, according to data from the Nigerian Exchange Limited.