Elumelu appointed chairman of Seplat Energy

Seplat Energy Plc has announced key board and executive management changes, including a leadership succession plan that will see Mr Tony Elumelu emerge as chairman effective January 1, 2027.

According to the company’s corporate disclosure, the changes are aimed at strengthening its growth trajectory while ensuring continuity in strategy and governance. The board disclosed that the Chief Executive Officer, Mr Roger Brown, will retire from his role and as a board director on July 31, 2026.

On the chairman succession, the board said the incumbent, Senator Udo Udoma, has given notice of his intention to retire on December 31, 2026.

The board subsequently confirmed Elumelu as the incoming chairman.

It said, “The board has accordingly elected Mr Tony Elumelu as the next Chairman of Seplat Energy, effective January 1, 2027. Mr Elumelu, who joined the board in January 2026, is the Founder and Chairman of Heirs Holdings, which has a 20.07 per cent shareholding in Seplat Energy.”

Heirs Holdings is a diversified investment company, with interests across strategic sectors of the African economy, including energy, power, banking, insurance, technology, real estate, hospitality, and healthcare.

It added, “Mr Elumelu has a multi-decade track record of value creation in listed and non-listed entities. Mr Elumelu is also a distinguished philanthropist, globally recognised as one of the leading voices on Africa’s transformation and governance agenda.”

According to the statement, the outgoing CEO, Brown, had led Seplat Energy through a period of strategic expansion and transformation, including the acquisition of Mobil Producing Nigeria Unlimited.

It noted that “during Mr Brown’s 13-year tenure, initially as the company’s CFO through its landmark dual listing in 2014 and for the past six years as CEO, Seplat Energy has grown significantly through a combination of financial discipline, asset development and successful acquisitions, including Eland Oil and Gas in 2019 and the transformational acquisition of MPNU in 2024.”

The board was said to have appointed Effiong Okon as the new Chief Executive Officer and Executive Director, effective 1 August 2026. Okon is expected to succeed Brown and lead the company’s next phase of growth.

Announcing his appointment, the company stated, “An accomplished leader with over 35 years of global industry expertise, he brings a formidable track record of operational excellence and strategic execution.

“He is deeply familiar with the organisation, having been with the company since 2018, initially serving on Seplat Energy’s board as Operations Director for four years, then as our New Energy Director and most recently as Managing Director of ANOH Gas Processing Company, where he successfully drove the project’s execution to achieve first gas in January 2026.”

Outgoing CEO Brown said, “It has been the greatest pleasure to be part of Seplat Energy’s growth since joining in 2013 as CFO and having led the company as CEO since August 2020. I am immensely proud that we have built a company that has now become synonymous with financial resilience, balanced capital allocation, strong corporate governance and shareholder reward.”

Udoma expressed appreciation to Roger for his exceptional contribution to the development of Seplat Energy into a leading African independent energy company.

The incoming CEO, Okon, said he was delighted to be taking on the appointment at an important juncture, saying, “My immediate focus will be on ensuring the company executes the 2030 Roadmap, alongside development of the long-term plan to ensure we deliver on the immense potential inherent in our portfolio.”

In his words, Elumelu stated, “I am honoured to succeed Senator Udoma as chairman in January 2027 and to lead the board through Seplat Energy’s next phase of growth. I firmly believe in the critical role indigenous resources play in the economic transformation of Nigeria and Africa, and Seplat Energy’s culture of execution and governance aligns strongly with my own values.

“I thank Senator Udoma and Roger for their stewardship and look forward to delivering further value for shareholders. I also congratulate Mr Okon on his appointment as chief executive officer. His deep industry experience gives me great confidence that Seplat Energy is well positioned for its next chapter of growth.”