Tony Elumelu. Credit: UBA
Tony Elumelu’s investment in Seplat Energy has more than doubled in value, with his Heirs Holdings stake now worth over $1bn.
Heirs Holdings bought a 20.07 per cent stake in Seplat, representing about 120.4m shares, from French energy company Maurel & Prom in December 2025.
The deal cost about $500m at the time.
Since then, Seplat’s share price has risen strongly on both the Nigerian Exchange and the London Stock Exchange, pushing the value of Heirs Holdings’ stake above $1bn.
