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Nigerian energy mogul Ambrosie Bryant Chukwueloa Orjiako, widely known as ABC Orjiako, has seen a notable boost to his wealth this year. The market value of his holdings in Nigeria’s largest listed energy group, Seplat Energy, has surged by almost $10 million.
According to data tracked by Billionaires.Africa, Orjiako’s stake in Seplat Energy has grown by N8.74 billion ($9.8 million) so far this year. This uptick is attributed to increased investor interest, driving a recent upswing in the shares of the Lagos-based energy conglomerate.
Seplat’s shares rocket 10 percent, market cap soars above $1.6 billion
Seplat Energy, renowned for its strategic operations in Nigeria’s Niger Delta region, owes its foundation to Nigerian energy moguls ABC Orjiako and Austin Avuru, who established the company in 2009. The company’s growth trajectory has positioned it as the largest listed energy group on the Nigerian Exchange.
Orjiako, a former director of the Lagos-based energy conglomerate, holds a 6.43-percent stake in Seplat Energy — this stake translates to a total of 37,837,142 ordinary shares in the group, solidifying his position as one of Nigeria’s wealthiest individuals.
Since the start of the year 2024, the Seplat shares have increased by 10 percent, rising from N2,310 ($2.59) to N2,541 ($2.85) at the time of drafting this report — thus pushing its market capitalization above $1.6 billion.
Orjiako’s Seplat stake gains $9.8 million in 19 days, crossing $100 million
As a result of the boost in the group’s share price, the market value of the stake held by Orjiako has increased by N8.74 billion ($9.81 million), climbing from N87.4 billion ($98.09 million) on Jan. 1 to N96.14 billion ($107.94 million) at the time of drafting this report.
This nearly $10 million increase in wealth over the last 20 days of 2024 solidifies his status as one of the top investors on the Nigerian stock exchange and among the country’s wealthiest business figures.
