By Tanimu Bukar
In a world where stiff competition defines business and operational landscape, some companies are finding ways to carve a niche for themselves in the area of service delivery.
This is the edge that thrusted Seplat Energy Plc, a frontline Nigerian independent energy company listed on both the Nigerian Exchange Limited (NGX) and the London StockyExchange (LSE), to bag has the Outstanding Energy Company Award for 2023 given by the New Telegraph Newspapers recently
This was announced at the award ceremony which was held in Lagos at the weekend.
It would be recalled that the highly competitive and prestigious annual award aims to reward excellence and outstanding individuals and businesses in Nigeria that have carved a niche for themselves in the development of the nation across critical sectors of the economy.
Seplat Energy was recognised for its performance in 2023 in the areas of business and operational excellence, whilst leading Nigeria’s energy transition with accessible, affordable and reliable energy that drives social and economic prosperity for all its stakeholders.
The Managing Director and Editor-in-Chief, New Telegraph Newspapers, Ayodele Aminu, in his brief remark, lauded Seplat Energy for its giant strides in Nigeria’s energy space, stressing that the “Newspaper is using the award to reward individuals and businesses in Nigeria that have distinguished themselves by their remarkable contributions to the development of Nigeria in both the public and private sectors.
According to Aminu, the New Telegraph awards look to distinguish the best in every sector across the nation.
In her remarks, the Director, External Affairs and Social Performance at Seplat Energy Plc, Chioma Afe, thanked the board, management and staff of the New Telegraph for the hard work, dedication and professionalism displayed over the years in building a reputable brand and promoting the ethos of journalism.
Afe, who was represented by Stanley Opara, Manager Corporate Communications at Seplat Energy Plc, expressed the company’s appreciation for the recognition and assured all its stakeholders of the company’s unwavering commitment to strong corporate governance, operational excellence and continuous value creation and retention.
“For Seplat Energy, this is a call for more work and increased results, as we remain charged to consistently deliver value to all our stakeholders around the world.”
Also honoured at the event were Zenith Bank Plc, UBA Plc, Unity Bank Plc, Transcorp Plc, Airtel Plc, FBN Holdings Plc, Niger Delta Power Holding Company, Lagos, Enugu, Bauchi, Bayelsa, Gombe States, amongst others.
Over the years, Seplat Energy’s business strategy is enabled by a strong framework of corporate governance and supported by the values that guide how it conducts its business.
The company’s business model is based on five pillars including “Increase of asset base through exploration and appraisal, or the acquisition of blocks or even companies such as Eland Oil & Gas; Increase the efficiency and output of those assets by improving asset integrity and through innovation and strong cost control as well as diversifying export routes to improve revenue assurance and avoid problems created by using third-party infrastructure.
Others include “Increasing the contribution of gas in its revenue mix, to provide long-term visibility and higher profitability thanks to lower taxes and reduced transportation losses compared to oil; develop new products and new markets, for example LPG for cooking, off-grid gas-to-power, and eventually significant renewable capacity.”
The company also has a constant focus on cash generation to enable it invest for growth, maintain a strong balance sheet that protects shareholders from downturns in oil pricing and allows it to return cash to shareholders.
Seplat shares the belief that “All these value-creation activities depend on maintaining excellent and inclusive relationships with its host communities, from whom it earns the Social Licence to Operate, as well as the government and industry partners.
Manager, Corporate Communications, Seplat Energy Plc, Stanley Opara (middle), receiving an award on behalf of Seplat Energy from the Managing Director/Editor-in-Chief, Independent Newspapers, Steve Omamefune (right) with the Managing Director/Editor-in-Chief, New Telegraph Newspapers, Ayodele Aminu (left), during the New Telegraph Awards where Seplat Energy emerged as ‘Outstanding Energy Company of the Year’ in Lagos
