Good People, join me in congratulating Chairman Tony Elumelu as Heirs Energies, Africa’s leading indigenous integrated energy company, celebrates a milestone acquisition of the 20.07% equity stake in Seplat Energy Plc previously held by Maurel & Prom S.A. This transaction, valued at approximately $500 million, cements a legacy of indigenous dominance in the continental energy landscape.
In the traditions of the Igbo Nation, it is said that it takes the killing of just one leopard to be recognized as a killer of leopards; by adding this stake to a portfolio that includes Transcorp Power and AEDC, Chairman has conquered the market-leopards, ensuring all roads to the Ikoro Square are open for his ascension as the King of Africa’s Energy sector!
As I have noted here before, Chairman Elumelu played a defining role in my own transition from being a teacher to becoming a businessman. I once sought an audience with him while he was on transit in Boston. The instruction was simple: if you can make it before 7pm, we could see. I rushed to the airport; he had already checked in, but he came out. We spoke for 15 minutes. I wanted to do things in Nigeria but needed clarity from real players.
Later, when I needed clarity again, I reached out while in Nigeria. He asked me to meet him at Transcorp Hilton Hotel, Abuja. For over 45 minutes, he provided guidance. And the best part? He paid for the meal at the Bukka.
Then he invited me to join the board of the $100 million TEEP Fund. For the first time, a village boy sat in a boardroom where real decisions were being made. He later invited me to UBA Group retreats, exposing me to the physics of business and markets. Yes, inside those rooms, I met humans and that brought confidence that I could be like them!
Today, we’re doing very fine; yesterday, I reported that one of our portfolio companies rang the bell in NASDAQ. We have invested in many dozens of companies globally. And in Q1 2026, we will open one of our largest offices in Nigeria, in Owerri, as we begin operations in a new sector.
Chairman, I wish you a Happy New Year ahead with more bigger wins, and thanks for the kindness to this village boy. You will visit Owerri to ceremonially open our new business. When everything is ready, I will send the email.
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