All-Round Increase: ABC Orjiako Peaks Seplat Stake
Good things come to the patient and diligent. Dr. Ambrosie Bryant Chukwueloa Orjiako, fondly called ABC Orjiako, fits this bill. Starting 2024 by reaching for the skies, the efforts of Orjiako are yielding sizable fruits. In his number one brainchild, Seplat Energy, Orjiako’s claim has peaked, increasing by almost N9 billion, the equivalent of $10 million.
This is a great time to be Orjiako or the other heavyweight investors in Seplat Energy. With every decent rise in the company’s market value, shareholders are endowed with significant bump-ups in their financial assets, translating into a legit fortune.
This year, Seplat Energy has enjoyed considerable growth in market shares. According to reports, the company’s market capitalization has reached a staggering $1.6 billion—and surpassed it. This increase emerged from the appreciation of the company’s shares by 10 per cent at the start of 2024, gladdening the hearts of Seplat Energy shareholders.
Naturally, few of these shareholders have grossed more benefits than Orjiako. Based on the reports, the Seplat Energy chairman has a 6.43 per cent stake in the business. Since this translates to around 37.8 million ordinary shares and each share is priced at over N2,500, Orjiako’s stake comes to more than N94 billion or $100-plus million.
It pays to be a practical visionary, a seemingly conflicting combination of ideals that has worked for Orjiako. With his business successes, especially the founding of Seplat Energy in 2009 alongside Austin Avuru, it is easy to forget that Orjiako is an orthopaedic and trauma surgeon.
So mighty is Orjiako’s work at Seplat Energy that it is constantly redefining the oil and gas sector in Nigeria. Currently, it tops the list of energy companies on the Nigerian Exchange, peaking as the largest. All of this is happening with Orjiako as the company’s chairman.
With Seplat Energy’s recorded success at the start of 2024, what will the rest of the year bring? Other oil and gas tycoons better gather around Orjiako to learn the secret to his success.