Business

Seplat wins Most Profitable Company award

Seplat Petroleum Development Company Plc has won the Most Profitable Company (Oil & Gas: Exploration and Production) with Dr. ABC Orjiako, Chairman Seplat, emerging as the Board Chairman of the Year at the Nigerian Investor Value Award (NIVA) organised by BusinessDay Media Limited in conjunction with the Nigerian Exchange Limited.

 

As the Most Profitable Company, Seplat was recognised for recording the highest percentage growth in profits year-on-year in its sector.

 

The company was said to have achieved this feat, while experiencing faster growth relative to its peers, and maintaining a relatively high operating performance. “In 2020, like in previous years, Seplat has shown that its high profit margins are sustainable. Its strong profit position is not a flash in the pan, neither is it likely to be frittered away in coming years.

 

This consistency has enabled the company to pay dividends regularly, service debts taken for recent strategic acquisitions, and underwrite new investments, while maintaining positive credit ratings,” the organisers explained.

 

Also, the Board Chairman of the Year award recognises a non-executive chairman or lead director, who has demonstrated a passion for advancing the principles of good governance.

 

Orjiako, according to the award organisers, has demonstrated the ability to objectively solve the most difficult boardroom challenges, with the proven experience to offer independent, sound guidance when the company faces hurdles and opportunities

 

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