Seplat Energy Plc (LSE: SEPL, NGX: SEPLAT), Nigeria's leading indigenous energy company, has announced the applicable currency exchange rate for its Q3 2026 interim dividend and special dividend payable to shareholders who elected to receive payments in Nigerian Naira. The rate, published by the Central Bank of Nigeria on 11 November 2026, has been set at US$1 equal to ₦1,358.34. The announcement, issued from Lagos and London on 12 November 2026, directly affects the Naira-equivalent value of dividend payments distributed to eligible shareholders.

Key Points

  • Seplat Energy Plc (LSE: SEPL / NGX: SEPLAT)
  • The company has confirmed the Nigerian Foreign Exchange Market (NFEM) rate of US$1 = ₦1,358.34 for calculating Naira-equivalent Q3 2026 dividend payments
  • The rate is sourced from the Central Bank of Nigeria's NFEM publication dated 11 November 2026; the Q3 2026 interim and special dividend were previously announced on 29 October 2026
  • Investors receiving dividends in Naira should note how prevailing exchange rate movements may affect the Naira value of future distributions

NFEM Rate of ₦1,358.34 Applied to Seplat's Q3 2026 Naira Dividend Calculation

Seplat Energy confirmed that the exchange rate used to determine the Naira equivalent of its Q3 2026 interim and special dividend is the Nigerian Foreign Exchange Market rate published by the Central Bank of Nigeria on 11 November 2026, fixed at US$1 equalling ₦1,358.34. This rate is applied in accordance with the company's established dividend payment procedures. Shareholders who have elected to receive their distributions in Naira will have their entitlements calculated using this figure. The company directed shareholders to its 29 October 2026 announcement for further details on the definition of default currency.

Seplat's Dual-Listed Structure and Niger Delta Portfolio Underpin Dividend Framework

Seplat Energy is listed on both the Premium Board of the Nigerian Exchange Limited and the Main Market of the London Stock Exchange, giving it a shareholder base spanning multiple jurisdictions and currencies. The company's operations are concentrated in the Niger Delta, encompassing 11 PMLs, 17 PPLs and 5 OMLs across onshore and shallow water locations. It also holds operated interests in three export terminals and two offshore NGL recovery plants. This geographically concentrated portfolio in Nigeria makes the USD-to-Naira exchange rate a structurally significant variable in determining the real value of shareholder returns for Naira-elected recipients.

Gas Processing Infrastructure Supports Seplat's Position as Domestic Power Supplier

Beyond oil production, Seplat Energy operates three onshore gas processing plants, including facilities at Oben and Sapele on its Western Assets and the 300 MMscfd ANOH Gas Processing Plant on its Eastern Assets — the latter an integrated joint venture with NGIC. These facilities underpin the company's role as a leading supplier of natural gas to Nigeria's domestic power generation market. The breadth of Seplat's energy infrastructure across both hydrocarbons and gas processing reflects the company's stated strategy of delivering affordable, reliable and sustainable energy to support economic development across Nigeria.