We prioritized safety, executed with discipline, and stayed focused on protecting long-term value.” — Osa Igiehon, CEO, Heirs Energies.
From securing a landmark $750M financing deal to acquiring a strategic stake in Seplat Energy, the indigenous energy giant closes the year with strong fundamentals and operational excellence.
In a year characterized by global market volatility and operational complexities within the energy sector, Heirs Energies has distinguished itself through disciplined execution, financial resilience, and a bold expansion strategy.
In an end-of-year message to stakeholders, the Chief Executive Officer of Heirs Energies, Osa Igiehon, described 2025 as a year that “demanded discipline,” noting that while the industry faced heightened stakeholder expectations, the company remained firmly anchored on its fundamentals.
Closing the year on a high note, Heirs Energies executed two defining transactions that have firmly positioned the company for long-term dominance in the African energy landscape.
Most notably, the company successfully executed a US$750 million financing transaction with Afreximbank. This significant capital injection is set to strengthen the company’s long-term growth trajectory. Furthermore, Heirs Energies completed the acquisition of a 20.07 percent equity stake in Seplat Energy Plc (previously held by Maurel & Prom S.A.). This acquisition is not merely a financial win but a strategic statement on indigenous participation, reinforcing the company’s confidence in Africa’s ability to own, develop, and responsibly manage its resources.
Operationally, Heirs Energies demonstrated the efficacy of its brownfield strategy. Through targeted technical interventions, the company restored production from long-inactive assets, achieving a peak gas production of 135 MMscf per day.
Also, the company doubled its gas supply to key power customers. This achievement underscores Heirs Energies’ pivotal role in bridging Nigeria’s energy gap, contributing meaningfully to domestic power generation and stimulating economic activity.
Despite a challenging price environment, the company reported a 10 percent year-on-year increase in revenue. Under the leadership of its Chairman, Mr. Tony Elumelu, and CEO, Osa Igiehon, the company met all obligations to lenders and sustained full cost recovery.
“These outcomes reflect our continued focus on efficiency, capital discipline, and sustainable cash generation,” Igiehon stated, noting that unit operating costs remained significantly below industry benchmarks.
Perhaps the most impressive statistic from the 2025 scorecard is the company’s safety record. Heirs Energies sustained an exceptional performance, recording 1,780 Lost Time Injury (LTI)-free days and over 9 million LTI-free manhours.
This culture of safety was matched by a culture of peace in its host communities. Through deliberate engagement, the company recorded zero production deferment arising from community issues—a rare feat in the Niger Delta that highlights a business model built on trust and shared value.
As Heirs Energies looks toward 2026, the roadmap is clear. The company aims to build on the foundations laid in 2025 by protecting asset integrity and deepening partnerships.
With a portfolio that now includes significant stakes in critical national assets and a proven track record of operational turnaround, Heirs Energies enters the new year not just as a participant in the energy sector, but as a stabilizing force and a leader in Africa’s energy transition.