Nigeria’s leading indigenous energy company, Seplat Energy Plc, has announced its registration as EITI Supporting Company last year, reinforcing its commitment to transparency, accountability, and global best practices.
The company in a statement on Thursday indicated that its recognition as EITI Supporting Company had been posted on the EITI website and across its communications platforms.
As an EITI Supporting Company, Seplat Energy will promote transparency in the extractive sector while contributing to the development of international governance standards.
This affiliation with EITI will enhance the energy company’s corporate credibility, strengthen its financial standing, and foster its greater engagement with governments, industry peers, and civil society.
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According to the company’s statement, supporting the EITI will enable it to demonstrate industry leadership, improve access to finance through transparent reporting, and stay ahead of evolving investor and regulatory expectations. It also facilitates trust-building and reinforces the company’s commitment to responsible business practices.
At the domestic level, Seplat Energy as EITI Supporting Company will benefit from the EITI framework by strengthening its social license to operate, reducing investment risks, and supporting capacity-building efforts. The initiative promotes a level playing field for all industry players and enhances collaboration with key stakeholders.
By aligning with EITI standards, Seplat Energy continues to drive sustainable development in the energy sector while upholding the principles of transparency, integrity, and long-term value creation.
The Board of Directors of Seplat Energy assured on the company’s commitment to sound corporate governance and ensuring that it complies with the Nigerian and UK corporate governance regulations as well as international best practice.
The Board stated its awareness of the Corporate Governance Guidelines issued by the Securities and Exchange Commission, the Nigerian Code of Corporate Governance 2018, issued by the Financial Reporting Council of Nigeria and the UK Corporate Governance Code 2024, issued by the UK Financial Reporting Council and promised the company’s readiness to comply with them in its operations.
