Seplat Energy Plc has become the first listed company on the Nigerian Exchange (NGX) to cross the five-digit share price mark, hitting N10,450 per unit.
The milestone was achieved on Tuesday according to stock market data obtained from the NGX.
Seplat’s share appreciated by 9.42 percent to N10,450, from the N9,550 recorded on Monday.
Also, Seplat’s share has increased by 86.27 percent or N4,840 year-to-date, from N5,610 on January 2 to N10,450.
During the same period, the company’s shareholders have recorded a combined gain of N2.90 trillion, while the company’s market valuation has surged from N3.36 trillion to N6.26 trillion.
The company’s share price has been on an upward movement since Tony Elumelu, the chairman of United Bank for Africa (UBA) and Heirs Energies, acquired 20 percent stake, worth $500 million, in December 2025.
The share price has increased by N4,641 since Elumelu acquired the shares.
Seplat is currently the sixth most valuable company on the Nigerian Exchange behind Airtel Africa, BUA Cement, Dangote Cement, BUA Foods and MTN Nigeria.
The Newsmatrics reports that thebNigerian market is one of the best-performing globally in 2026, with a strong bullish run driven by banking recapitalisation, oil prices, and liquidity inflows.
The NGX All-Share Index surged to around to 202,000 points in early April 2026 and has
nearly doubled year-on-year, reflecting aggressive equity repricing.
The equities market cap ranged between N126–N131 trillion in the March–April period while the total market cap is currently estimated at around N177 trillion.
The strong rally suggests that the NGX is in a sustained bull phase delivering 25–40 per cent YTD gains but the market remains defined by concentration risk with just 16 firms accouting for handful N96.8 trillion in value.
It is not clear how long the bull run can be sustained but strong liquidity driven by pension funds, bank recapitalisation inflows and institutional investors are driving demand but some models belive a consolidation is inevitable in the next 12 months, but a major correction appears far off.
