Seplat Energy Plc is gaining momentum, and Zedcrest Wealth maintains a BUY rating at ₦8,049.46.
Consequently, the target implies a 38.6% upside from the current price of ₦5,809.00, reflecting strong growth potential.
Seplat Strong Momentum
Moreover, Zedcrest also kept a BUY rating on Aradel Holdings, targeting ₦798.35 per share with 17% upside.
Both calls appeared in Zedcrest’s 2026 outlook, titled “Weak Global Pressures Meet Domestic Realities.”
Energy Projects Driving Growth
Importantly, improved security measures reduced crude oil theft to a 16-year low across Nigeria’s oil fields.
Additionally, Nigeria’s crude output is recovering steadily, moving closer to the 2.5 million barrels per day target.
The Assa North–Ohaji South gas plant will deliver its first gas by Q4 2025.
Read Also: Explosion Rocks Escravos–Lagos Gas Pipeline: NNPC
Furthermore, the plant will start full operations in Q1 2026, producing 300 mmscfd initially and rising to 600 mmscfd.
Seplat holds a 20% stake, while the Nigerian government owns 57.5%, actively promoting LNG and CNG adoption nationwide.
This project will support the energy transition in transport, power generation, and industrial consumption.
On the upstream side, Nigeria’s crude production should rebound to 2.5 million barrels per day by the end of 2026.
Financial Strength And Outlook
Seplat posted impressive results, with revenue surging 213% year-on-year to ₦3.3 trillion in the first nine months of 2025.
Consequently, the company increased operating profit to ₦1.09 trillion, and pretax profit more than doubled to ₦878.9 billion.
Retained earnings reached ₦314 billion, while shareholders’ equity decreased slightly to ₦2.6 trillion.
Total assets stood at ₦9 trillion, slightly below ₦9.8 trillion reported the previous year.
Overall, Seplat’s strong financial position and key projects put it in a prime position to capitalise on 2026 opportunities.
