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Seplat MD wins entrepreneur of the year award

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IMAGE: Austin Avuru, MD and CEO of Seplat Petroleum Development Company »



Austin Avuru, Managing Director and Chief Executive officer of Seplat Petroleum Development Company has won the highly prestigious and coveted Ernst & Young Entrepreneur of the Year award in the Master Category for the Nigeria and West African sub-region.

With this feat, Avuru joins the league of globally recognized entrepreneurs like Aliko Dangote who won in 2012.

Avuru, a thoroughbred industry professional and vocal advocate of indigenous participation in the Exploration and Production sectors of the Nigerian oil industry, will be contesting alongside other winners from the various regions for the global Ernst & Young World Entrepreneur of the Year which will hold in Monaco in June 2014.

Speaking at the award ceremony, the Honourable Minister of Trade, Olusegun Aganga, elaborated on the many benefits of events such as the Ernst and Young World Entrepreneur of the Year Award and the need to celebrate entrepreneurs as they boost the economy by their business initiatives which provide employment amongst many other.

Henry Egbiki, Ernst & Young’s Regional Managing Partner for West Africa, who described the award as “the most prestigious award that recognises entrepreneurs across the world,” said finalists and winners of the award emerged after an extensive and intensive process.

The Ernst & Young Entrepreneur of the Year Awards, sponsored by Ernst & Young, is held annually in more than 50 countries worldwide and recognizes business leaders “driving successful, innovative businesses and celebrates their exemplary performance.”

Every year, overall winners from different countries and regions gather in Monte Carlo, Monaco, for the annual Ernst & Young World Entrepreneur of the Year Award. The Nominees are reviewed by an independent judging panel composed of several distinguished business leaders and previous award recipients.

Meanwhile Seplat is considering listing shares on two stock exchanges, according to Managing Director Avuru.

“A dual listing remains an option for Seplat for equity-raising,” he said in a telephone interview on Nov. 8, declining to comment further. “It will be wrong of us to discuss anything that is still undergoing regulatory approval.”

Seplat had earlier purchased assets in the Niger Delta from Royal Dutch Shell Plc.

BusinessDay had earlier reported on June 27, that Seplat plans a dual listing in Lagos and London. Arunma Oteh, director general of the Securities and Exchange Commission, said in an interview last month that a dual listing planned by an oil exploration and production company she didn’t identify will be “defining” and may encourage others to follow.

Avuru studied Geology at the University of Nigeria, Nsukka and graduated with a Bachelor of Science degree, second class upper division in 1980. He proceeded to the University of Ibadan for Post Graduate Diploma in Petroleum Engineering and left with a Distinction. He would go on to work at the Nigerian National Petroleum Corporation for 12years.

Article Credit: Business Day Newspaper

Updated 6 Years ago

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