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SEPLAT Plc Emerges Overall Winner of 2019 PEARL Awards

People	1963 VIEWS
People
1963 VIEWS

Monday, November 25, 2019 / 9:05 AM / Ottoabasi Abasiekong for Proshare WebTV / Header Image Credit: WebTV

Seplat Petroleum Development Company Limited emerged the overall winner of the 2019 Pearl Awards, which is designed to celebrate excellence and leadership in the Nigerian capital market.

At an event that was attended by regulators, leaders and key stakeholders in the capital market, Seplat achieved the feat of emerging the "PEARL" back-to-back (2018 and 2019), which was a notable feat.

The award was presented Seplat's management, by the Chairman of the Board of the Securities and Exchange Commission ,(SEC), Mr Olufemi Lijadu, and Ms Mary Uduk, the Acting Director-General of SEC, supported by Dr Farouk Umar, Chairman of the PEARL Awards Board.

Apart from winning the overall PEARL Awards for 2019, Seplat Plc also clinched the sectoral awards for the Oil and Gas segment and that of the net asset ratio.

The Chairman of the Board of Pearl Awards Dr Umar believed that the awards was an avenue for encouraging development of the capital market, and praised the Federal Government for supporting the market.

President of Pearl Awards, Mr Tayo Orekoya, speaking on the theme of the 2019 edition "Celebrating Sustainable Leadership & Resilience" said the event was recognizing leaders who represent beacons of hope for the capital market.

Orekoya said that on the threshold of a quarter of a century celebrations, PEARL awards has recognized and rewarded over 85 quoted Nigerian companies for outstanding operational and stock performance with eighteen (18) emerging as the overall highest awards winners of the stock market at different times.

According to him "The PEARL Awards remains the only Awards in Nigeria that rewards outstanding performance of quoted companies in the Nigerian capital market based on verifiable facts and figures.

We remain humbled that our impartiality, transparency, fairness and unbias have continued to endear us to major stakeholders in the capital market. We commit to uphold and be sustainably guided by these principles".

Orekoya said the PEARL Awards will expand its scope to cover the fixed income securities, derivatives and registrars space. He also said the board is also working out modalities for establishing the "African" version by 2021.

The Acting Director-General of the Securities and Exchange Commission Ms Uduk commended the PEARL Awards team for its legacy of driving excellence and competitiveness in the capital market.

She assured stakeholders of the continued support of the Apex regulator for efforts towards lrewarding hardwork, dedication, ingenuity and excellence in the capital market.

Chairman of the Board of SEC Nigeria Lijadu, praised the PEARL Awards for evolving for over two (2) decades and remaining consistent in its drive to support the growth of the capital market.

Dr Abiodun Adedipe, an economist and board member of PEARL Awards in the presentation of the "Nigerian Stock Market Annual" 2020 edition noted that a key takeaway from the report was that Nigeria and West Africa remained key destinations for attracting private equity and even venture capital investments.

He noted from the report that the government should explore catalyzing the growth of the commodities exchange market to help diversify the economy and give it revenue earnings.

Adedipe outlined the following key issues addressed by the NSMA 2020 edition, which include;