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Seplat Energy

SEPLAT · Nigerian Exchange · Consolidated statements

On this page
Company details
Legal name
Seplat Energy Plc
Listing
SEPLAT on the Nigerian Exchange, active · ISIN NGSEPLAT0008 (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2025 · annual report, signed / final · source

  • Revenue

    NGN 4.14 trillion

    4,135,376 NGN millions · p55

    +150.4% vs 2024

  • Operating profit / (loss)

    NGN 1.02 trillion

    1,024,622 NGN millions · p55

    +112.0% vs 2024

  • Profit / (loss) for the year

    NGN 242 billion

    241,580 NGN millions · p55

    +16.2% vs 2024

  • Total assets

    NGN 8.73 trillion

    8,729,381 NGN millions · p56

    −16.7% vs 2024

  • Total equity

    NGN 2.64 trillion

    2,643,236 NGN millions · p56

    −6.3% vs 2024

  • Cash from operations

    NGN 1.77 trillion

    1,768,266 NGN millions · p60

    +285.5% vs 2024

Large amounts are rounded for reading (NGN million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in NGN millions unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY2025 — annual report, signed / final; reported for the year · source
  • FY2024 — annual report, signed / final; comparative in the FY2025 filing · source
  • FY2023 — audited financial statements, signed / final; reported for the year · source
  • FY2022 — audited financial statements, signed / final; comparative in the FY2023 filing · source

Income statement

Income statement, NGN millions. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025; FY2023 — audited financial statements (signed / final), as reported for the year; FY2022 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2023.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filingFY2023Audited financial statementsreported for the yearFY2022Audited financial statementscomparative in FY2023 filing
Revenue from contracts with customers 4,135,376 1,651,571 696,867 403,913
Cost of sales (2,763,104) (1,130,149) (347,534) (206,696)
Gross profit 1,372,272 521,422 349,333 197,217
Other income/(loss) -net1 87,459 54,955 (80,066) (15,302)
Gain on bargain purchase2 –3 149,153 Not reported in this filing4 Not reported in this filing4
General and administrative expenses (378,532) (215,659) (94,282) (58,299)
Impairment loss on financial assets (23,857) (15,640) (8,310) (2,730)
Fair value losses5 (32,720) (10,875) Not reported in this filing6 Not reported in this filing6
Operating profit 1,024,622 483,356 163,729 116,589
Finance income 18,532 19,525 6,277 491
Finance costs7 (281,207) (138,694) (45,438) (28,916)
Finance cost - net89 (262,675) (119,169) (39,161) (28,425)
Share of (loss)/ profit from joint venture accounted for using the equity method1011 (6,442) 30,482 972 (1,434)
Profit before taxation 755,505 394,669 125,540 86,730
Income tax expense (513,925) (186,800) (44,210) (42,297)
Profit for the year 241,580 207,869 81,330 44,433
Non-controlling interests12 (1,599) (12,663) 26,753 17,950
Foreign currency translation difference13 (183,231) 1,141,883 804,113 61,666
Remeasurement loss on defined benefits obligations1415 (6,516) (5,105) (555) 825
Deferred tax credit on remeasurement loss1617 5,806 1,685 183 (379)
Other comprehensive (loss)/income for the year18 (183,941) 1,138,463 803,741 62,112
Total comprehensive income for the year (net of tax) 57,639 1,346,332 885,071 106,545
Fair value loss19 Not reported in this filing20 Not reported in this filing20 (2,946) (4,297)
  1. Printed “–”, read as nil: subtotal_arithmetic: is.operating_profit.
Notes and alternative reported figures (19)
  1. Printed under different labels across filings: “Other income/(loss) -net”; “Other loss”.
  2. “Gain on bargain purchase” is an issuer-specific line, not mapped to a shared definition: Note 12.
  3. Not reported in this filing: Not printed: the FY2023 consolidated statement of profit or loss and OCI (p40) has no 'Gain on bargain purchase' line; between gross profit and operating profit it prints 'Other loss', 'General and administrative expenses', 'Impairment loss on financial assets' and 'Fair value loss'. Text layer (N million columns).
  4. “Fair value losses” is an issuer-specific line, not mapped to a shared definition: Note 15.
  5. Not reported in this filing: Not reported under this label in this filing: the filing prints this item as 'Fair value loss' (p40), shown in the row 'Fair value loss'. No second copy recorded. Text layer.
  6. Printed under different labels across filings: “Finance cost”; “Finance costs”.
  7. “Finance cost - net” is an issuer-specific line, not mapped to a shared definition: Note 16: finance income less finance costs.
  8. Printed under different labels across filings: “Finance cost - net”; “Finance cost-net”.
  9. “Share of (loss)/ profit from joint venture accounted for using the equity method”: mapping to a shared definition is uncertain. Share of the results of a joint venture (ANOH), equity method.
  10. Printed under different labels across filings: “Share of (loss)/ profit from joint venture accounted for using the equity method”; “Share of profit/(loss) from joint venture accounted for using the equity method”.
  11. “Non-controlling interests” is an issuer-specific line, not mapped to a shared definition: Printed under the first 'Attributable to:' (profit for the year).
  12. “Foreign currency translation difference” is an issuer-specific line, not mapped to a shared definition: OCI, may be reclassified (note 33).
  13. “Remeasurement loss on defined benefits obligations” is an issuer-specific line, not mapped to a shared definition: OCI, not reclassified (note 37.2).
  14. Printed under different labels across filings: “Re-measurement (loss)/gain on defined benefit obligations”; “Remeasurement loss on defined benefits obligations”.
  15. “Deferred tax credit on remeasurement loss” is an issuer-specific line, not mapped to a shared definition: OCI, not reclassified (note 17).
  16. Printed under different labels across filings: “Deferred tax credit on remeasurement loss”; “Deferred tax credit/(expense) on remeasurement gain”.
  17. Printed under different labels across filings: “Other comprehensive (loss)/income for the year”; “Other comprehensive income/(loss) for the year”.
  18. “Fair value loss” is an issuer-specific line, not mapped to a shared definition: Note 12.
  19. Not reported in this filing: Not reported under this label in this filing: the filing prints this item as 'Fair value losses' (p55), shown in the row 'Fair value losses'. No second copy recorded. Text layer.

Balance sheet

Balance sheet, NGN millions. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025; FY2023 — audited financial statements (signed / final), as reported for the year; FY2022 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2023.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filingFY2023Audited financial statementsreported for the yearFY2022Audited financial statementscomparative in FY2023 filing
Oil & gas properties1 4,477,741 4,983,767 1,465,354 741,339
Other property, plant and equipment2 517,515 661,811 25,744 12,419
Right-of-use assets 163,697 201,182 1,946 1,974
Intangible assets 812,866 1,017,699 106,583 55,630
Other assets3 130,343 139,431 91,478 45,478
Investment accounted for using equity method45 372,835 374,641 200,937 99,219
Long-term prepayments67 22,462 48,018 37,978 25,703
Deferred tax assets8 289,581 353,954 261,529 113,475
Total non-current assets 6,787,040 7,780,503 2,191,549 1,095,237
Inventory9 489,087 525,978 47,154 24,774
Trade and other receivables 683,086 1,156,593 368,898 174,127
Short-term prepayments1011 47,729 52,596 9,477 556
Contract assets 29,159 23,918 7,240 3,313
Derivative financial assets12 17,352 –13 –14 481
Restricted cash15 181,347 202,983 24,311 10,706
Cash and cash equivalents 476,970 721,385 404,825 180,786
Total current assets 1,924,730 2,683,453 861,905 394,743
Asset held for sale16 17,611 18,838 Not reported in this filing17 Not reported in this filing17
Total assets 8,729,381 10,482,794 3,053,454 1,489,980
Issued share capital 300 297 297 297
Share premium 150,802 87,375 90,138 91,317
Share based payment reserve18 24,985 15,558 12,255 5,936
Treasury shares19 (100,270) (3,570) (1,612) (2,025)
Capital contribution20 5,932 5,932 5,932 5,932
Retained earnings 342,409 312,635 230,708 241,386
Foreign currency translation reserve21 2,198,082 2,393,009 1,251,127 447,014
Non-controlling interest 20,996 11,127 23,790 (2,963)
Total shareholder's equity22 2,643,236 2,822,363 1,612,635 786,894
Interest bearing loans and borrowings 1,339,135 1,409,480 599,434 311,149
Lease liabilities 67,027 88,530 Not reported in this filing23 Not reported in this filing23
Provision for decommissioning obligation24 1,168,622 1,194,818 117,489 86,670
Deferred tax liability25 1,742,201 2,176,045 88,381 35,032
Defined benefit plan 3,904 76,900 1,810 2,878
Total non-current liabilities 4,320,889 4,945,773 807,114 435,729
Interest bearing loans and borrowings 104,154 690,270 80,265 33,232
Lease liabilities26 29,162 26,679 1,207 1,800
Derivative financial liability27 9,041 6,073 1,444 1,435
Trade and other payables 1,310,242 1,790,227 480,136 205,622
Other provisions 4,901 5,088 Not reported in this filing28 Not reported in this filing28
Current tax liabilities 307,756 196,321 70,653 25,268
Total current liabilities 1,765,256 2,714,658 633,705 267,357
Total liabilities 6,086,145 7,660,431 1,440,819 703,086
Total shareholders' equity and liabilities29 8,729,381 10,482,794 3,053,454 1,489,980
  1. Printed “—”, read as nil: subtotal_arithmetic: bs.current_assets.
  2. Printed “-”, read as nil: subtotal_arithmetic: bs.current_assets.
Notes and alternative reported figures (27)
  1. “Oil & gas properties” is an issuer-specific line, not mapped to a shared definition: Note 19.1: oil and gas properties (production and field facilities, assets under construction, E&E).
  2. “Other property, plant and equipment” is an issuer-specific line, not mapped to a shared definition: Note 19.2: property, plant and equipment other than oil and gas properties.
  3. Printed under different labels across filings: “Other asset”; “Other assets”.
  4. “Investment accounted for using equity method”: mapping to a shared definition is uncertain. Investment in a joint venture (ANOH) accounted for using the equity method.
  5. Printed under different labels across filings: “Equity-accounted investment”; “Investment accounted for using equity method”.
  6. “Long-term prepayments” is an issuer-specific line, not mapped to a shared definition: Note 23.
  7. Printed under different labels across filings: “Long-term prepayments”; “Prepayments”.
  8. Printed under different labels across filings: “Deferred tax asset”; “Deferred tax assets”.
  9. Printed under different labels across filings: “Inventories”; “Inventory”.
  10. “Short-term prepayments” is an issuer-specific line, not mapped to a shared definition: Note 23.
  11. Printed under different labels across filings: “Prepayments”; “Short-term prepayments”.
  12. Printed under different labels across filings: “Derivative financial assets”; “Derivative financial instruments”.
  13. “Restricted cash” is an issuer-specific line, not mapped to a shared definition: Note 29.2.
  14. “Asset held for sale” is an issuer-specific line, not mapped to a shared definition: Note 30; printed after 'Total current assets' and within 'Total assets'.
  15. Not reported in this filing: Not printed: the FY2023 consolidated statement of financial position (p42) has no 'Asset held for sale' line; current assets are inventories, trade and other receivables, prepayments, derivative financial instruments, contract assets, restricted cash and cash and cash equivalents. Text layer.
  16. “Share based payment reserve” is an issuer-specific line, not mapped to a shared definition: Note 31.4.
  17. “Treasury shares” is an issuer-specific line, not mapped to a shared definition: Note 31.5.
  18. “Capital contribution” is an issuer-specific line, not mapped to a shared definition: No note reference printed.
  19. “Foreign currency translation reserve” is an issuer-specific line, not mapped to a shared definition: Note 33.
  20. Printed under different labels across filings: “7RWDOVKDUHKROGHUV¶HTXLW\”; “Total shareholder's equity”.
  21. Not reported in this filing: Not printed: the FY2023 statement of financial position (p42) has no lease-liabilities line under non-current liabilities (interest bearing loans and borrowings, decommissioning provision, deferred tax liabilities, defined benefit plan); 'Lease Liabilities' appears only under current liabilities. Text layer.
  22. “Provision for decommissioning obligation” is an issuer-specific line, not mapped to a shared definition: Note 36 (non-current).
  23. Printed under different labels across filings: “Deferred tax liabilities”; “Deferred tax liability”.
  24. Printed under different labels across filings: “Lease Liabilities”; “Lease liabilities”.
  25. Printed under different labels across filings: “Derivative financial instruments”; “Derivative financial liability”.
  26. Not reported in this filing: Not printed: the FY2023 statement of financial position (p42) has no 'Other provisions' or other provisions line under current liabilities (interest bearing loans and borrowings, lease liabilities, derivative financial instruments, trade and other payables, current tax liabilities). Text layer.
  27. Printed under different labels across filings: “7RWDOVKDUHKROGHUV¶HTXLW\DQGOLDELOLWLHV”; “Total shareholders' equity and liabilities”.

Cash flow

Cash flow, NGN millions. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025; FY2023 — audited financial statements (signed / final), as reported for the year; FY2022 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2023.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filingFY2023Audited financial statementsreported for the yearFY2022Audited financial statementscomparative in FY2023 filing
Cash generated from operations 2,536,812 567,459 340,570 243,917
Income tax paid1 (641,027) (100,672) (40,767) (24,415)
PAYE tax on vested shares paid2 (13,443) (2,763) (1,179) (1,517)
Contribution to plan assets3 (75,457) (1,317) (3,000) (2,015)
Restricted Cash45 8,887 3,399 (2,027) (3,359)
Hedge premium paid6 (47,506) (7,398) (3,533) (4,360)
Net cash inflows from operating activities 1,768,266 458,708 292,091 211,610
Payment for acquisition of oil and gas properties7 (396,135) (297,483) (117,539) (67,338)
Payment for Investment in Joint Venture8 (30,342) –9 Not reported in this filing10 Not reported in this filing10
Proceeds from disposal of oil and gas properties1112 –9 9,134 9,889 7,884
Payment for acquisition of other property, plant and equipment13 (8,845) (8,273) (3,238) (1,973)
Proceeds from disposal of other property, plant and equipment1415 –9 12 –16 8
Receipts from other asset***1718 –9 16,123 –16 4,600
Payment for acquisition of subsidiary19 (494,896) (1,029,964) Not reported in this filing20 Not reported in this filing20
Cash acquired from acquiree21 –9 279,885 Not reported in this filing22 Not reported in this filing22
Deposit for asset held for sale23 2,124 12,629 Not reported in this filing24 Not reported in this filing24
Interest received 18,532 19,526 6,277 491
Net cash outflows used in investing activities25 (909,562) (998,411) (106,638) (122,146)
Principal repayments of loans and borrowings2627 (1,562,982) (56,981) 6,277 –28
Proceeds from loans and borrowings 1,024,036 961,792 Not reported in this filing29 Not reported in this filing29
Dividend paid30 (212,695) (135,185) (64,883) (24,972)
Shares purchased for employees*31 (46,910) (28,866) (1,179) –28
Payment of financing charges from the issue of shares32 (352) –33 Not reported in this filing34 Not reported in this filing34
Interest paid on lease liability (11,465) (4,017) (35) (161)
Lease payment - principal portion35 (39,305) (6,401) (2,988) (836)
Payments of other financing charges**3637 (70,932) (31,775) (5,343) (5,325)
Interest paid on loans and borrowings (152,600) (92,504) (40,455) (26,857)
Net cash (outflows)/inflows used in financing activities38 (1,073,205) 606,063 (108,606) (58,151)
Net (decrease)/increase in cash and cash equivalents39 (214,501) 66,360 76,847 31,313
Cash and cash equivalents at beginning of the year 721,385 404,825 180,786 133,667
Effects of exchange rate changes on cash and cash equivalents (29,914) 250,200 147,192 15,806
Cash and cash equivalents at end of the year 476,970 721,385 404,825 180,786
Payment for Abiala investment40 Not reported in this filing41 Not reported in this filing41 –16 (5,092)
Deposit for investment42 Not reported in this filing43 Not reported in this filing43 –16 (57,367)
  1. Printed “–”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
  3. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
  4. Printed “–”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (39)
  1. Printed under different labels across filings: “Income tax paid”; “Tax paid”.
  2. “PAYE tax on vested shares paid” is an issuer-specific line, not mapped to a shared definition: Operating (note 31.2).
  3. “Contribution to plan assets” is an issuer-specific line, not mapped to a shared definition: Operating (note 37).
  4. “Restricted Cash” is an issuer-specific line, not mapped to a shared definition: Operating (note 29.3).
  5. Printed under different labels across filings: “Restricted Cash”; “Restricted cash”.
  6. “Hedge premium paid” is an issuer-specific line, not mapped to a shared definition: Operating (note 28.3).
  7. “Payment for acquisition of oil and gas properties” is an issuer-specific line, not mapped to a shared definition: Investing (note 19.1).
  8. “Payment for Investment in Joint Venture” is an issuer-specific line, not mapped to a shared definition: Investing (note 24.4.2.3).
  9. Not reported in this filing: Not printed: the FY2023 consolidated statement of cash flows (p46) has no 'Payment for Investment in Joint Venture' line; investing lines are payments for oil and gas properties and other PPE, payment for Abiala investment, deposit for investment, disposal proceeds, receipts from other asset, interest received and restricted cash. Text layer.
  10. “Proceeds from disposal of oil and gas properties” is an issuer-specific line, not mapped to a shared definition: Investing (note 19.1).
  11. Printed under different labels across filings: “Proceeds from disposal of oil and gas properties”; “Proceeds from the disposal of oil and gas properties***”.
  12. “Payment for acquisition of other property, plant and equipment”: mapping to a shared definition is uncertain. Other PPE only; oil and gas property payments are printed on a separate row.
  13. “Proceeds from disposal of other property, plant and equipment”: mapping to a shared definition is uncertain. Other PPE only; 2025 printed '–'.
  14. Printed under different labels across filings: “Proceeds from disposal of other property plant and equipment”; “Proceeds from disposal of other property, plant and equipment”.
  15. “Receipts from other asset***” is an issuer-specific line, not mapped to a shared definition: Investing (note 20): proceeds from the financial interest in OML 55 (footnote ***).
  16. Printed under different labels across filings: “Receipts from other asset***”; “Receipts from other asset****”.
  17. “Payment for acquisition of subsidiary” is an issuer-specific line, not mapped to a shared definition: Investing (note 7.1).
  18. Not reported in this filing: Not printed: the FY2023 consolidated statement of cash flows (p46) has no 'Payment for acquisition of subsidiary' line; investing lines are payments for oil and gas properties and other PPE, payment for Abiala investment, deposit for investment, disposal proceeds, receipts from other asset, interest received and restricted cash. Text layer.
  19. “Cash acquired from acquiree” is an issuer-specific line, not mapped to a shared definition: Investing (note 7).
  20. Not reported in this filing: Not printed: the FY2023 consolidated statement of cash flows (p46) has no 'Cash acquired from acquiree' line; investing lines are payments for oil and gas properties and other PPE, payment for Abiala investment, deposit for investment, disposal proceeds, receipts from other asset, interest received and restricted cash. Text layer.
  21. “Deposit for asset held for sale” is an issuer-specific line, not mapped to a shared definition: Investing (note 38).
  22. Not reported in this filing: Not printed: the FY2023 consolidated statement of cash flows (p46) has no 'Deposit for asset held for sale' line; investing lines are payments for oil and gas properties and other PPE, payment for Abiala investment, deposit for investment, disposal proceeds, receipts from other asset, interest received and restricted cash. Text layer.
  23. Printed under different labels across filings: “Net cash outflows from investing activities”; “Net cash outflows used in investing activities”.
  24. “Principal repayments of loans and borrowings”: mapping to a shared definition is uncertain. The Naira column prints 6,277 (2022: '-') while the US dollar column prints (22,000); see the issuer_inconsistency note.
  25. Printed under different labels across filings: “Principal repayments of loans and borrowings”; “Repayments of loans and borrowings”.
  26. Not reported in this filing: Not printed: the FY2023 statement of cash flows (p46) has no proceeds-from-borrowings line; financing lines are 'Repayments of loans and borrowings', shares purchased for employees, dividends, lease interest and principal, other financing charges and interest paid on loans and borrowings. Text layer.
  27. Printed under different labels across filings: “Dividend paid”; “Dividends paid”.
  28. “Shares purchased for employees*” is an issuer-specific line, not mapped to a shared definition: Financing (note 31.2): shares purchased for the LTIP scheme (footnote *).
  29. “Payment of financing charges from the issue of shares” is an issuer-specific line, not mapped to a shared definition: Financing; no note reference printed.
  30. Not reported in this filing: Not printed: the FY2023 statement of cash flows (p46) has no 'Payment of financing charges from the issue of shares' line; it prints 'Payments for other financing charges**' (a different line, footnoted as commitment fees and transaction costs on borrowings). Text layer.
  31. Printed under different labels across filings: “Lease payment - principal portion”; “lease payments- principal portion”.
  32. “Payments of other financing charges**” is an issuer-specific line, not mapped to a shared definition: Financing (note 34.1): mainly transaction costs of the new $650m bond and withholding tax on bond coupon (footnote **).
  33. Printed under different labels across filings: “Payments for other financing charges**”; “Payments of other financing charges**”.
  34. Printed under different labels across filings: “Net cash (outflows)/inflows used in financing activities”; “Net cash outflows from financing activities”.
  35. Printed under different labels across filings: “Net (decrease)/increase in cash and cash equivalents”; “Net increase in cash and cash equivalents”.
  36. “Payment for Abiala investment” is an issuer-specific line, not mapped to a shared definition: Investing (note 19); 2023 printed '-'.
  37. Not reported in this filing: Not printed: the FY2025 consolidated statement of cash flows (p60) has no 'Payment for Abiala investment' line. Text layer.
  38. “Deposit for investment” is an issuer-specific line, not mapped to a shared definition: Investing (note 23.6); 2023 printed '-'.
  39. Not reported in this filing: Not printed: the FY2025 statement of cash flows (p60) has no 'Deposit for investment' line; the nearest line, 'Deposit for asset held for sale', is a different item already transcribed under its own concept. Text layer.

Per share and shares

Per share and shares. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025; FY2023 — audited financial statements (signed / final), as reported for the year; FY2022 — audited financial statements (signed / final), comparative reported in the audited financial statements for 2023.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filingFY2023Audited financial statementsreported for the yearFY2022Audited financial statementscomparative in FY2023 filing
Earnings / (loss) per share (per share)21 409.92 374.77 92.75 45.00
Profit / (loss) attributable to shareholders (NGN millions)3 243,179 220,532 54,577 26,483
Notes and alternative reported figures (3)
  1. Printed under different labels across filings: “Basic earnings per VKDUHଂ”; “Basic earnings per share ₦/$”.
  2. Earnings / (loss) per share: printed as “Basic earnings per share ₦/$”.
  3. Profit / (loss) attributable to shareholders: printed as “Equity holders of the parent”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

Dividend events, the issuer's wording, and amounts as printed
Year endedEventWording as printedAmountUnitSource
31 Dec 2025 Dividends paid (cash flow statement) Dividend paid (212,695) NGN millions Annual report, p60
31 Dec 2024 Dividends paid (cash flow statement) Dividend paid (135,185) NGN millions Annual report, p60
31 Dec 2023 Dividends paid (cash flow statement) Dividends paid (64,883) NGN millions Audited financial statements, p46
31 Dec 2022 Dividends paid (cash flow statement) Dividends paid (24,972) NGN millions Audited financial statements, p46

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • Seplat Energy Plc Audited results for the year ended 31 December 2025

    Year ended 31 December 2025 · Annual report · signed / final

    Audit: PricewaterhouseCoopers (Chartered Accountants, Lagos), unmodified opinion · signed

    Auditor's sign-off: Abisola Atitebi (engagement partner), for PricewaterhouseCoopers

    Final status: Independent auditor's report to the members of Seplat Energy Plc on the consolidated and separate financial statements (PDF pp48-53, image-only pages; opinion p48), unmodified, with a handwritten signature above 'For: PricewaterhouseCoopers, Chartered Accountants, Lagos, Nigeria, Engagement Partner: Abisola Atitebi, FRC/2021/PRO/ICAN/004/00000023658', the ICAN seal and the date 26 February 2026 (p53, page image). Consolidated statements 'authorised for issue in accordance with a resolution of the Directors on 26 February 2026' with handwritten signatures of U. U. Udoma (Chairman), R.T Brown (CEO) and E. Adaralegbe (CFO) (p57, page image).

    Document date
    26 Feb 2026
    Auditor's report
    26 Feb 2026
    Board approval
    26 Feb 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025, FY2024
    Basis
    consolidated statements · NGN millions (printed “₦ million”)
    • 2024 comparatives of the statement of profit or loss and the statement of financial position are headed 'Restated **' ('See note 8': restatement and measurement-period adjustments for the MPNU/SEPNU acquisition, PDF pp110-115).
    • Dual presentation: every primary statement prints Naira (N million) and US Dollar ($'000) columns ('Expressed in Nigerian Naira and US Dollars', p54). Naira columns read. The auditor's report pages (pp46-53) have no text layer and were read on the page images.
    • Key audit matter (p49): the impact of oil and natural gas reserves on upstream PP&E (N4,477.7 billion) and DD&A expense (N797.1 billion); consolidated statements only. PwC also issued a limited-assurance report on internal control over financial reporting (pp46-47).
    • The queue classed this document as an abridged summary; it is a full set of audited consolidated and separate financial statements with notes 1 to 46 and the full auditor's report, preceded by a results management report (pp2-15). Transcribed as full statements.
    Technical details
    File
    206 pages, with a text layer
    SHA-256
    cde3af86ffb7d8db79fccf33b12516c878b70743889547d5846295daccc61d87
    Entity as printed
    Seplat Energy Plc and its subsidiaries (The Group)
    Exchange copy
    retrieved 2026-10-08T18:02:59Z

  • Seplat Energy Plc Audited results for the twelve months ended 31 December 2023 (Group Accounts and Company Accounts, expressed in Nigerian Naira and US Dollars)

    Year ended 31 December 2023 · Audited financial statements · signed / final

    Audit: PricewaterhouseCoopers (Chartered Accountants, Lagos), unmodified opinion · signed

    Auditor's sign-off: Pedro Omontuemhen (engagement partner), for PricewaterhouseCoopers

    Final status: Independent auditor's report (image-only pages 32-36) with a handwritten signature for PricewaterhouseCoopers, engagement partner Pedro Omontuemhen (FRC/2013/ICAN/00000000739), ICAN seal, dated 29 February 2024 (PDF p36, page image). Consolidated statements authorised for issue by the directors on 29 February 2024 and signed by B. Omiyi (Chairman), R.T. Brown (CEO) and E. Onwuka (CFO) (p43; typed names in the text layer).

    Document date
    29 Feb 2024
    Published
    29 Feb 2024
    Auditor's report
    29 Feb 2024
    Board approval
    29 Feb 2024
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2023, FY2022
    Basis
    consolidated statements · NGN millions (printed “₦ million”)
    • Statement of cash flows (p46): 'Repayments of loans and borrowings' prints 6,277 in the 2023 Naira column (the same figure as interest received) but (22,000) in the 2023 US dollar column; the printed Naira financing total ((108,606)) adds up with +6,277. Kept as printed.
    • Dual presentation: every primary statement prints Naira (₦ million) and US Dollar ($'000) columns ('Expressed in Nigerian Naira and US Dollars', p39). Naira columns read. The auditor's report pages (pp32-38) have no text layer and were read on the page images; pp37-38 are PwC's separate limited-assurance report on internal control over financial reporting.
    • Key audit matter (p33): the impact of oil and gas reserves on depletion, depreciation and amortisation and on the recoverability of deferred tax assets; consolidated statements only.
    • The 2022 balance-sheet column is marked '*': deferred tax assets and liabilities were reclassified to align with the current year (note 14.8, p42); not marked restated.
    • The queue classed this document as an abridged summary; it is a full set of audited consolidated and separate financial statements with notes and the full auditor's report, preceded by a results management report (pp2-14). Transcribed as full statements.
    Technical details
    File
    222 pages, with a text layer
    SHA-256
    2440b9b28c148df1092616fba707fa762b44420765dac8520086424edfd82515
    Entity as printed
    Seplat Energy Plc and its subsidiaries (The Group)
    Exchange copy
    retrieved 2026-10-08T18:10:29Z

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Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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