Seplat Targets 500,000bpd Oil Production, $1bn Shareholder Dividends Payout in Four Years

•PIA clarity driving new capital into Nigeria’s petroleum sector, says NUPRC

Peter Uzoho

Seplat Energy has unveiled an aggressive growth plan that targets 500,000 barrels of oil per day (bpd) and a $1 billion dividends payout to shareholders over the next four to five years, as it positions to become Nigeria’s largest indigenous integrated energy company.

Chief Executive Officer of Seplat Energy, Mr Effiong Okon, announced the targets during a fireside chat at the ongoing Africa Oil Week (AOW) 2026 in Accra, Ghana, with the theme: “Investing in African Natural Resources.”

Reflecting on Seplat’s trajectory in Nigeria’s complex upstream landscape, Okon described the company’s journey as one driven by resilience and disciplined capital allocation.