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Seplat gets WEF recognition

By on May 10, 2014

The World Economic Forum has named Seplat Petroleum Company Development Company Plc a global growth company, the firm said in a statement on Wednesday.

With the recognition, Seplat joins a vibrant community of the world’s most dynamic, influential and high-growth companies, which are judged on their compliance with set criteria of growth, global corporate citizenship, executive leadership and impact on the competitive landscape of their region or industry.

Commenting on the recognition, the Managing Director/Head of New Champions, World Economic Forum, Mr. David Aikman, said “When choosing entrants to our community of global growth companies, we assess companies on their business models, annual revenues and growth rates, executive leadership and market position.

“Seplat is a dynamic group with clear potential to shape the future in its relevant business sectors and so is a perfect fit to our GGC community.”

The statement said, “The recognition is coming a few weeks after the company’s successful and over-subscribed Initial Public Offering, which raised over $500m on both the Nigerian and London Stock Exchanges.

“The company has also just announced the signing of a 15-year gas supply contract with an Independent Power Plant underpinning the expansion of its domestic gas business and the company’s organic growth. This contract will leverage Seplat’s additional $300m investment in gas to boost power supply.”

According to the statement, Seplat has, in the space of four years, steadily emerged as a global brand and player owing to its phenomenal growth trajectory, experienced management and strict adherence to corporate governance best practices, which it underlines as the bedrock of its existence and pivotal to the sustainability of its growth aspirations.

The Chairman, Seplat, Dr. Ambrosie Orjiako, was quoted as saying, “The award is both recognition and validation of the significant strides we have made at Seplat, which has led to our clear emergence as a highly focused oil and gas company, heralding a new era in the Nigerian oil and gas industry.

“We are humbled by the recognition, which we believe will spur us on to greater achievements.”

 

 

[Punch]