Why Seplat Energy announced NUPRC confirmation of consent on MPNU deal

By Chioma Obinagwam

Seplat Energy Plc, a leading Nigerian energy company listed on both the Nigerian Exchange and the London Stock Exchange, is delighted to announce that the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed that consent has been granted by the Honourable Minister of Petroleum Resources in Nigeria, President Bola Ahmed Tinubu GCFR, to proceed with the acquisition of the entire issued share capital of Mobil Producing Nigeria Unlimited (‘MPNU’) (“the Transaction”).Seplat Energy told Confiance News in a statement on Tuesday. “Seplat Energy sincerely thanks His Excellency, President Bola Ahmed Tinubu GCFR, for granting this approval, and appreciates the support and diligence of the various Ministries and regulators for all the work on this Transaction.”Further announcements will be made as and when appropriate, in line with regulatory requirements,” the company said.