Seplat Energy Plc has reached a fresh milestone on the Nigerian Exchange Limited (NGX), with its share price climbing to an all-time high of N16,000 per share as strong investor demand continues to drive the oil and gas stock higher. NGX trading data showed that the stock gained N1,092.20, or 7.33%, during Thursday’s session on September 24, extending its remarkable run in the Nigerian equities market.
The latest jump takes Seplat’s share price from N5,809 at the beginning of 2026 to N16,000, representing a 175.44% gain year-to-date. The stock has also risen by 197.44% over the past year, pushing Seplat’s market capitalisation to approximately N9.599 trillion. The latest record follows another strong run earlier in September, when the shares climbed from N13,552.60 to N14,907.80 within 10 days.
Seplat’s rally also provided a boost to the broader NGX Oil/Gas Index, which gained 3.95% to close at 6,252 points. While Seplat led the sector’s movement, other oil and gas stocks recorded mixed performances. Conoil, Aradel and TotalEnergies closed unchanged, while Eterna gained 1.3% to N39.00 and Oando declined 0.97%.
The surge comes as global oil prices remain elevated amid renewed geopolitical tensions and concerns over key energy and shipping routes. Brent crude recently moved above $106 per barrel, while West Texas Intermediate traded around $94 per barrel. Higher oil prices can provide a supportive environment for energy companies, although individual share-price movements are also influenced by company-specific financial results, investor demand and market expectations.
Seplat’s strong market performance has also coincided with improved financial and operational results in 2026. For the six months ended June, the company reported a 74.1% year-on-year increase in profit before tax to N790.4 billion, while revenue rose 15.5% to N2.50 trillion and production increased to 139,509 barrels of oil equivalent per day. The company’s growing production base, stronger earnings and expansion of its offshore assets have kept investor attention firmly on the stock as Seplat continues its record-breaking run on the NGX.
source: nairametrics