Elumelu’s Seplat Stake Surges Past $1bn as Energy Giant Powers Ahead

Bimpe Adedayo Investment more than doubles in value as Seplat shares rally on stronger earnings, higher production and debt reduction Tony Elumelu’s investment in Seplat Energy has crossed the $1bn mark, less than eight months after his company, Heirs Holdings, acquired a substantial stake in the Nigerian energy producer for about $500m. Heirs Holdings acquired a 20.07 per cent interest in Seplat,…