Austin Avurus Seplat stake jumped 15.84 million in two weeks as shares surged nearly 10 on the Nigerian Exchange.
Seplat stock climbed from N4,964.4 3.24 to N5,450 3.55, boosting the firms market value past 2.1 billion,
Despite recent gains, Seplat shares remain down 4.39 year-to-date, leaving early 2025 investors with paper losses.
Nigerian energy mogul Austin Avuru, co-founder of Seplat Energy, has a sharp rebound in the value of his stake in the company over the past two weeks. Shares of the oil and gas giant have rallied on the Nigerian Exchange NGX, pushing up the value of Avurus 8.5-percent holding by N24.29 billion 15.84 million.
Avuru holds 50.02 million shares in Seplat, making him one of the largest individual investors in the firm. Between June 17 and the time of writing, the market value of his stake rose from N248.32 billion 162 million to N272.60 billion 171.73 million.
The recent uptick follows a rough start to the year. In the first half of 2025, Avurus stake had dropped by 23.6 million, from 183.09 million on January 1 to 159.46 million on June 8.
Seplat Energy rallies as market confidence returnsFounded in 2009 by Nigerian energy magnates Austin Avuru and Ambrosie Orjiako, Seplat Energy has risen to become Nigerias largest listed energy group on the NGX, anchored by a dominant presence in the Niger Deltas oil and gas sector.
In the past two weeks, Seplats stock has gained 9.78 percent, rising from N4,964.4 3.24 on June 17 to N5,450 3.55 as of this writing. The rally has pushed the companys market value past 2.1 billion, strengthening its standing among Africas key players in the energy space.