In its avowed commitment to transparency, accountability, and global best practices, Nigeria’s leading indigenous energy company, Seplat Energy Plc, has joined the Extractive Industries Transparency Initiative (EITI) as Supporting Company.
Seplat, in a statement on Thursday disclosed that the registration which was approved in 2024 is now on the EITI website and across its communications platforms.
The energy company, according to the statement, stated as an EITI Supporting Company, it promotes transparency in the extractive sector while contributing to the development of international governance standards, adding that the affiliation enhances corporate credibility, strengthens financial standing, and fosters greater engagement with governments, industry peers, and civil society.
“Supporting the EITI enables Seplat Energy 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.
“On a local level, Seplat Energy benefits 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 statement noted.
It said the Board of Directors of Seplat Energy reaffirmed commitment to sound corporate governance, and ensures that the Company complies with the Nigerian and UK corporate governance regulations as well as international best practice.
“The Board is aware 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 ensures that the Company complies with them,” the statement added.
