Seplat shares hit ₦16,000 all-time high on NGX, up 7.3% yesterday as YTD gains reach 175%

Seplat Energy shares closed at an all-time high of ₦16,000 on the Nigerian Exchange Limited (NGX) yesterday, gaining ₦1,092.20 or 7.33% from the previous session. This extends the stock's impressive year-to-date surge to 175.44% from its January 1 price of ₦5,809, with one-year returns now at 197.44%. The rally pushed Seplat's market capitalization to ₦9.599 trillion and lifted the NGX Oil/Gas Index to 6,252.0 points (up 3.95%), even as peers showed mixed results—Conoil and TotalEnergies flatlined, Eterna gained 1.3% but Oando declined 0.97%.

The surge reflects Seplat's strong first-half 2026 performance, where pre-tax profit rose 74.1% year-on-year to ₦790.4 billion on revenue of ₦2.50 trillion, alongside production increasing to 139,509 barrels of oil equivalent per day. It also aligns with rising global oil prices, as Brent crude jumped above $106 per barrel amid renewed geopolitical tensions in the Middle East that threaten key shipping routes.

With Seplat having entered 2026 with a larger production base following offshore asset consolidation and onshore output growth from the Sapele Gas Plant, investors are betting the company can sustain momentum. However, questions remain about whether the rally has outpaced fundamentals given the stock's near-tripling in nine months. Will you consider adding Seplat to your portfolio at these levels, or wait for a potential pullback before investing in Nigeria's energy sector?

SOURCE: https://nairametrics.com/2026/09/25/seplat-hits-all-time-high-surges-to-n16000-per-share/