How ABC Orjiako’s Seplat Stake Surged by Nearly $10 Million

Nigerian energy tycoon Ambrosie Bryant Chukwueloa Orjiako, popularly known as ABC Orjiako, has experienced a significant uptick in his wealth this year. The market value of his holdings in Nigeria’s largest listed energy group, Seplat Energy, has surged by almost $10 million, according to reports.

Founded in 2009 by energy moguls ABC Orjiako and Austin Avuru, Seplat Energy has become a powerhouse in Nigeria’s Niger Delta region. The company’s strategic operations have propelled it to the top as the largest listed energy group on the Nigerian Exchange.

What you should know about the stake

Former director of Seplat Energy, ABC Orjiako, currently holds a 6.43-percent stake in the company, equivalent to 37,837,142 ordinary shares. This substantial stake solidifies his position among Nigeria’s wealthiest individuals.

Since the beginning of 2024, Seplat’s shares have seen a remarkable increase of 10 percent, surging from N2,310 ($2.59) to N2,541 ($2.85) at the time of drafting this report. This surge has propelled the company’s market capitalization above $1.6 billion, reflecting increased investor interest.

The surge in Seplat’s share price has directly impacted the market value of Orjiako’s stake. In just 19 days, his holdings have increased by N8.74 billion ($9.81 million), rising from N87.4 billion ($98.09 million) on January 1 to N96.14 billion ($107.94 million) at the time of writing.

ABC Orjiako’s nearly $10 million increase in wealth over the last 20 days of 2024 solidifies his status as one of the top investors on the Nigerian stock exchange. It also positions him among the country’s wealthiest business figures. This surge in Seplat’s share price underscores the company’s resilience and attractiveness to investors in the dynamic energy market.

Conclusion

In conclusion, ABC Orjiako’s Seplat stake has experienced a remarkable surge in value, driven by Seplat Energy’s impressive performance in the stock market. As one of Nigeria’s key players in the energy sector, Orjiako continues to make significant strides in growing his wealth, further establishing himself as a prominent figure in the country’s business landscape. The positive trajectory of Seplat Energy’s shares bodes well for both the company and its stakeholders, reflecting a robust outlook for the Nigerian energy conglomerate.