Seplat Hits $3.93 billion Trn Market Cap, Mulls .5m Bopd, $1bn Dividends In Bullish Move For Dominance

▪️We Are Really Hungry… Here’s Why the Indigenous Giant Is Eyeing Largest Integrated Status In Nigeria – Everything Seplat CEO, Engr. Effiong Okon, told a packed room of investors, CEOs and policymakers at AOW 2026

Accra, Ghana — NOP NIGERIA

Indigenous energy powerhouse Seplat Energy is plotting aggressive expansion, with a vow to pay $1 billion in shareholder dividends over the next 4 to 5 years and ramp production to half a million (500,000) barrels of oil per day.

The bold targets were unveiled by Engr. Effiong Okon, Chief Executive Officer and Executive Director of Seplat Energy, during a fire-side chat at Africa Oil Week 2026 in Accra, Ghana.

NOP NIGERIA reports that the session, moderated by Gavin Thompson, Vice Chairman for Europe, Middle East and Africa at Wood Mackenzie, also featured Mario Bello, EVP and Head of Sub-Saharan Africa Region at Eni.

Okon described Seplat’s journey as “an extraordinary story” of resilience and value creation, despite the challenges of operating in Nigeria’s complex oil and gas environment.

“Don’t get me wrong it has never been a smooth ride. But the feat we have recorded has been monumental,” he told a packed room of investors, CEOs and policymakers.

The CEO said Seplat’s ambition is clear: to become the largest independent, integrated energy company in Nigeria.

Backing that ambition with numbers, Okon revealed Seplat borrowed $530 million in its early years and has already paid out $835 million in dividends to shareholders.

Seplat Energy has a market cap or net worth of $3.93 billion as of August 24, 2026. Its market cap has increased by 170.10% in one year, based on the latest stock price and number of outstanding shares across its dual listings as reported by analysts at StockAnalysis.

Seplat is listed on both the Nigerian Exchange Limited, NGX, and the London Stock Exchange, LSE, giving it access to deep capital markets and global investors.

“We have committed ourselves to deliver a billion U.S. dollars in terms of dividends over the next four or five years. And we’re well on track,” Okon said.

On production, he announced Seplat is targeting 500,000 barrels of oil per day in joint venture operations, while also working to triple its attributable production over the medium term.

The CEO said the company remains on track to meet both its production and shareholder return targets, driven by disciplined capital allocation and a strong balance sheet.

“We are really hungry. We have a very strong balance sheet, and we are very strong on ethics and corporate governance,” Okon stressed.

Part of that growth plan includes restoring asset integrity across its portfolio and launching new seismic acquisition to unlock further exploration upside.

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“We are going to be taking seismic. We begin to do quite a number of explorations going forward,” he said, signaling a fresh wave of drilling and development.

Speaking on gas, Okon positioned Seplat as a trailblazer in Nigeria’s domestic gas market.

He disclosed that Seplat’s shallow water assets hold about 12 trillion cubic feet of gas, which the company plans to accelerate and monetize.

“We are indeed trailblazers when it comes to domestic gas development,” he said, adding that gas is central to Nigeria’s energy security and industrialization.

Beyond pipeline gas, Seplat is also expanding in Liquefied Petroleum Gas, LPG, to displace biomass in homes and help address carbon intensity issues in the domestic market.

As AOW 2026 continues in Accra, Okon’s message to investors was direct: Seplat has paid back more than it borrowed, it is growing output, and it is ready to reward shareholders while powering Nigeria’s energy future.

Reported by NOP NIGERIA from Africa Oil Week 2026, Accra