Seplat Energy Plc reputed to be Nigeria’s leading indigenous energy company has announced its emergence as the latest registered Extractive Industries Transparency Initiative (EITI) Supporting Company.
The company said in a statement on Tuesday that its recognition since 2024 and published on the EITI website and across its communications platforms reinforces its commitment to transparency, accountability, and global best practices.
“As an EITI Supporting Company, Seplat Energy is committed to promote transparency in the extractive sector, while contributing to the development of international governance standards,” the company said.
“This affiliation enhances corporate credibility, strengthens financial standing, and fosters greater engagement with governments, industry peers, and civil society,” it added.
Supporting the EITI, the company said, enables Seplat Energy to demonstrate industry leadership, improve access to finance through transparent reporting, and stay ahead of evolving investor and regulatory expectations. It also facilitates trust-building and reinforces the company’s commitment to responsible business practices.
On a local level, Seplat Energy said its new status would allow it benefit from the EITI framework, by strengthening its social license to operate, reducing investment risks, and supporting capacity-building efforts.
Besides, it said the EITI promotes a level playing field for all industry players and enhances collaboration with key stakeholders.
By aligning with EITI standards, Seplat Energy said it would continue to drive sustainable development in the energy sector, while upholding the principles of transparency, integrity, and long-term value creation.
The Board of Directors of Seplat Energy said it was committed to sound corporate governance and ensures that the Company complies with the Nigerian and UK corporate governance regulations as well as international best practice.
The Board said it was aware of the Corporate Governance Guidelines issued by the Securities and Exchange Commission (SEC), the Nigerian Code of Corporate Governance 2018, issued by the Financial Reporting Council of Nigeria, and the UK Corporate Governance Code 2024, issued by the UK Financial Reporting Council and assured it would strive to comply with them.
Seplat Energy Plc, which is an indigenous energy company with a strategic focus on Nigeria, is listed on the Premium Board of the Nigerian Exchange Limited (NGX) and the Main Market of the London Stock Exchange (LSE).
Seplat says it was pursuing a Nigeria focused growth strategy and is well-positioned to participate in future divestment programmes by the international oil companies, farm-in opportunities and future licensing rounds. For further information please refer to the company
