By Boluwatife Oshadiya | May 21, 2026
Key Points
- Seplat Energy shareholders approved a total dividend payout of ₦113.78 per share for 2025
- Company targets $1 billion in shareholder dividends over the next four to five years
- Seplat says post-Mobil acquisition integration has significantly strengthened production capacity
Main Story
Shareholders of Seplat Energy have approved a total dividend payout of ₦113.78 per share for the 2025 financial year following the company’s 13th Annual General Meeting held in Lagos on Wednesday. The approved dividend consists of a final dividend of ₦68.54 per share and a special dividend of ₦45.24 per share.
Speaking at the AGM, Chairman of Seplat Energy, Udoma Udo Udoma, said the company remained on course to deliver $1 billion in shareholder returns over the next four to five years.
“We have committed ourselves to delivering $1 billion in dividends over the next four to five years, and we are well on track,” Udoma said.
He noted that the integration of Mobil Producing Nigeria Unlimited assets had strengthened Seplat’s operational and financial position, adding that the company had already completed the acquisition and integration process within the timeline earlier communicated to shareholders.
According to the company, the combined business now includes 11 oil blocks, 48 producing fields and five gas plants. Chief Executive Officer Roger Brown said the acquisition significantly expanded Seplat’s reserve base and production outlook.
Brown disclosed that the company currently holds approximately one billion barrels of 2P reserves, evenly split between oil and gas, while total reserves and resources stand at about 2.5 billion barrels.
He added that Seplat is targeting attributable production of 200,000 barrels of oil per day in the medium term, alongside joint venture production capacity of 500,000 barrels daily.
Chief Operating Officer Samson Ezugworie said the company had projected production guidance of between 125,000 and 155,000 barrels per day for 2026.
The company also said it had maintained strong operational safety performance, recording zero fatalities and zero lost-time injuries since the integration process was completed.
The Issues
Seplat’s strong dividend payout comes at a time when energy companies are benefiting from elevated crude oil prices linked to geopolitical tensions in the Middle East.
The company’s expansion strategy also reflects broader consolidation trends within Nigeria’s oil and gas sector, where indigenous producers are acquiring onshore and shallow-water assets previously controlled by international oil majors.
However, the sector continues to face operational risks including oil theft, pipeline vandalism, regulatory uncertainty and foreign exchange volatility.
Gas commercialisation and reduced flaring have also become increasingly important as Nigeria pushes for cleaner energy transition policies and greater domestic gas utilisation.
What’s Being Said
“Our commitment is to return value to shareholders. We are constantly seeking ways to reduce costs and improve profitability,” Udoma said.
“The integration has significantly expanded the company’s operational scale and strengthened its balance sheet,” Brown stated during the AGM.
“This is clearly a reward period for shareholders given the company’s impressive performance and consistent returns,” said shareholder Dr Faruk Usman.
What’s Next
- Seplat is expected to focus on ramping up production toward its medium-term target of 200,000 barrels per day
- Investors will monitor how global oil price movements affect the company’s earnings outlook
- The company is also expected to deepen gas development projects and cost optimisation efforts following the Mobil asset integration
The Bottom Line: Seplat’s aggressive dividend strategy signals confidence in its post-acquisition growth trajectory and cash flow strength. The company is positioning itself as one of Nigeria’s dominant indigenous energy producers at a time when global oil market volatility continues to reshape the sector.
