Tony Elumelu Takes Helm at Seplat Energy as New Chairman, Effiong Okon Appointed CEO

In a significant development, Seplat Energy Plc has unveiled a major shake-up in its leadership, with renowned businessman Tony Elumelu set to take over as Chairman from January 1, 2027. This move is part of a well-structured succession plan aimed at ensuring seamless continuity in governance and the execution of the company's long-term growth strategy, as outlined in its Roadmap 2030 agenda. As part of this transition, the current Chief Executive Officer, Roger Brown, will be retiring on July 31, 2026, after an illustrious 13-year stint with the company, including six years at the helm. During his tenure, Seplat Energy witnessed significant expansion, notable acquisitions, and a substantial growth in its position as one of Africa's leading independent energy companies. The company has also announced that its current Chairman, Senator Udoma Udo Udoma, will be retiring from the board on December 31, 2026, paving the way for Elumelu, who is the Founder and Chairman of Heirs Holdings, to assume the leadership of the board at the start of 2027. Heirs Holdings currently holds a 20.07% stake in Seplat Energy. Elumelu expressed his honour at succeeding Udoma and leading the company into its next phase of growth, highlighting that Seplat's governance framework and execution culture align with his values. He reiterated his commitment to delivering greater value to shareholders and stakeholders. The appointment of Effiong Okon as the new Chief Executive Officer is intended to ensure operational continuity and strategic stability, given his over 35 years of experience in the energy industry. Okon joined Seplat in 2018 as Operations Director and has since held various roles, including New Energy Director and Managing Director of the ANOH Gas Processing Company. Notably, under his leadership, the ANOH gas project achieved its first gas production in January 2026, marking a significant milestone in Nigeria's gas development plans. Prior to joining Seplat, Okon spent several decades at Royal Dutch Shell, holding senior operational and leadership positions across Africa, Europe, the United States, and the Middle East. Speaking on his appointment, Okon emphasized his priority would be to execute Seplat's Roadmap 2030 strategy and advance the company's long-term growth objectives. In his farewell remarks, Brown reflected on his years at Seplat as a privilege, highlighting the company's growth during his tenure, including the acquisition of Eland Oil & Gas in 2019 and Mobil Producing Nigeria Unlimited in 2024. He also oversaw Seplat's dual listing on the Nigerian and London stock exchanges. Udoma commended Brown's contributions, noting that he had delivered strong shareholder value and strengthened corporate governance. Udoma expressed confidence in the incoming leadership team and reaffirmed the board's commitment to Seplat's long-term strategy. The succession plan underscores Seplat's focus on governance, leadership continuity, and sustained value creation as it pursues further expansion across Nigeria's oil and gas sector. With the transition framework now in place, Seplat is positioning itself for its next phase of growth, backed by an expanded asset base, growing gas infrastructure, and continued investment in Nigeria's energy sector.