By Francis Ajuonuma
Heirs Energies has acquired a 20.07 per cent equity stake in Seplat Energy PLC, emerging as the company’s single largest shareholder in a landmark transaction valued at about $496 million.
The stake was purchased from French oil and gas firm Maurel & Prom, which divested its entire holding in Seplat as part of a strategic portfolio rebalancing.
The acquisition is being widely viewed as a significant boost for the indigenisation of Nigeria’s oil and gas sector, with Seplat—one of Africa’s leading independent energy companies and dually listed on the Nigerian and London Stock Exchanges—now anchored by a strong domestic institutional investor.
Chairman of Heirs Energies and Heirs Holdings, Tony Elumelu, described the deal as a decisive step toward securing Africa’s long-term energy future.
“This investment reflects our firm belief in the vast potential of Nigeria’s energy sector,” Elumelu said. “At Heirs Energies, we are driven by Africapitalism—the conviction that African private capital must take the lead in developing Africa’s critical resources.
“By becoming Seplat’s largest shareholder, we are deepening indigenous participation and reinforcing our commitment to long-term value creation in the energy industry,” he added.
For Maurel & Prom, the divestment represents a strategic exit from a non-operated asset. Its Chief Executive Officer, Olivier de Langavant, said the transaction enables the company to unlock value while strengthening its balance sheet.
“The sale of our 20.07 per cent interest in Seplat Energy for $496 million is a significant milestone for Maurel & Prom,” he said. “It allows us to simplify our portfolio, crystallise value for shareholders and exit Nigeria responsibly.
“We are pleased that this important stake has been transferred to Heirs Energies, a group with a clear commitment to the growth and sustainability of Nigeria’s energy sector.”
The deal further consolidates Heirs Energies’ growing influence in Nigeria’s upstream sector, underscoring a broader shift toward local ownership and control of the country’s strategic energy assets.
