Seplat Energy Plc,  a dual listed energy company, has emerged winner of the tensely coveted ‘Highest Net Asset Ratio’ award at The Pearl Award 2022.

The energy company was announced winner by the organisers of the award at a ceremony held in Lagos on Sunday night.

The return on net assets (RONA) ratio compares a firm’s net income with its assets and helps investors to determine how well the company is generating profit from its assets. The higher a firm’s earnings relative to its assets, the more effectively the company is deploying those assets.

The Board of Governors of the PEARL Awards Nigeria congratulated Seplat Energy Plc for emerging as winner of the prestigious 2022 Highest Net Asset Ratio Award in the Market Excellence Awards Category for companies quoted on the Stock Market.

In his remarks, the President, PEARL Awards, Tayo Orekoya, said the 2022 PEARL Awards with the theme: “Sustaining Excellence Through Tenacity (SETT),” reflects the current realities of the PEARL Awards,  Corporates and Capital Markets, locally and globally.

A statement by Seplat quoted Orekoya as saying: “Over the years we have built and sustained a legacy through the PEARL Awards and this is attested to by the high reputation and credibility which corporate Nigeria and other stakeholders ascribe to the Awards Project for its impartiality and reliance on verifiable indices to determine the yearly winners.

Commenting on the award, Chief Financial Officer of Seplat Energy, Emeka Onwuka, expressed appreciation of the Board, Management and Staff of Seplat Energy Plc on the recognition, saying the feat remains a call for more work.

Onwuka was quoted as saying: “We thank the Board of Governors of the PEARL Awards Nigeria for this honour.

“At Seplat Energy Plc, our commitment to excellence and global best practices is unwavering. The Company had its sights set on the global business arena from its inception. Therefore, in April 2014 and in line with its vision of being a world-class energy company delivering premium value to all stakeholders, the company accomplished the historic feat of being the first Nigerian company to be listed on both the Nigerian Stock Exchange (now The Nigerian Exchange) and the main market of the London Stock Exchange – the world’s most respected international market for the admission and trading of equity, debt and other securities.

“The main motive behind Seplat Energy’s vision of listing in two jurisdictions was the great desire to build a company that would stand the test of time and stand shoulder-to-shoulder with other global players from other climes. This award tonight, reaffirms this, and for us, this is a call for more work.”