Gabonese oil mogul Samuel Dossou-Aworet sees stake in Seplat Energy exceed $200 million
Key Points
- Samuel Dossou-Aworet's stake in Seplat Energy has surged by more than $45 million, now valued above $200 million.
- Seplat Energy reported a net profit of $42.89 million for H1 2024, despite a 4.7% decline in average daily production.
- Dossou-Aworet also holds a 16.8% stake in Tullow Oil, valued at over $80 million, enhancing his energy portfolio.
Gabonese oil tycoon Samuel Dossou-Aworet has solidified his standing among Africa’s ultra-high-net-worth individuals (UHNWIs) following a substantial increase in the value of his holdings in Nigeria’s leading energy conglomerate, Seplat Energy.
According to market data tracked by Billionaires.Africa, Dossou-Aworet’s stake in the Nigerian energy giant has surged by over $45 million, bringing the value of his stake above $200 million.
Samuel Dossou-Aworet's Seplat stake surges
Dossou-Aworet, through his wholly-owned Petrolin Group, holds a 13.87-percent stake in Seplat, representing 81,015,319 ordinary shares.
As a result of Seplat’s impressive market performance in recent months, the value of his stake has risen from N240 billion ($156.63 million) in May to N332.4 billion ($203.1 million).
This boost further cements his standing among the top investors on the Nigerian Exchange (NGX) and contributes to his broader wealth portfolio across the energy sector.
Seplat Energy's resilience amid production dip
Seplat Energy, co-founded by Austin Avuru and Ambrosie Orjiako, has grown into Nigeria’s largest listed energy group, establishing itself as one of the top players in the oil and gas sector.
Despite facing a slight 4.7-percent decline in average daily production, Seplat has navigated operational challenges adeptly, bolstered by disciplined financial management and strategic growth initiatives.
For the first half of 2024, Seplat Energy reported a net profit of $42.89 million, demonstrating its resilience amid sector headwinds.
The group also increased its dividend payout ratio to 80 percent, up from 51.4 percent in the previous year, ensuring that shareholders benefited from its solid financial performance.
The group’s stock price has risen by 38.5 percent since May 21, climbing from N2,962.2 ($1.93) to N4,103.1 ($2.51), driving its market capitalization above the $1.4-billion mark.
Samuel Dossou-Aworet's oil fortune grows
Samuel Dossou-Aworet’s strategic investment in Seplat Energy aligns with his broader oil and gas portfolio, which includes a 16.8-percent stake in London-listed Tullow Oil Plc.
His stake in Tullow, comprising 243,635,633 shares, is valued at more than $80 million, adding further strength to his already formidable holdings in the global energy industry.
At 79 years old, Dossou-Aworet remains a pivotal figure in Africa’s energy landscape, leveraging decades of experience and an extensive network across the continent’s oil and gas sectors.
His latest financial success with Seplat Energy highlights his enduring influence as both an investor and a key player in Africa’s economic development.