Seplat Names Tony Elumelu Chairman-Elect, Appoints New CEO

Seplat Energy Plc has announced a major leadership transition that will see renowned investor and business leader Tony Elumelu assume the role of Chairman from January 1, 2027, while veteran oil and gas executive Effiong Okon takes over as Chief Executive Officer from August 1, 2026.

The changes, unveiled by the company on Tuesday, form part of a carefully structured succession plan designed to ensure continuity in governance, leadership and execution of Seplat Energy’s long-term growth strategy as it advances its Roadmap 2030 agenda.

The company disclosed that its current Chief Executive Officer, Roger Brown, will retire on July 31, 2026, after 13 years with the company, including six years as CEO.

Brown’s departure marks the end of a transformative era during which Seplat evolved into one of Africa’s leading independent energy companies through a combination of strategic acquisitions, operational expansion and disciplined capital management.

Seplat also announced that its Chairman, Senator Udoma Udo Udoma, will retire from the board on December 31, 2026, paving the way for Elumelu to assume leadership of the board at the beginning of next year.

The appointment of Elumelu, Founder and Chairman of Heirs Holdings, signals a significant development for the indigenous energy company.

Heirs Holdings currently holds a 20.07 per cent stake in Seplat Energy, making it one of the company’s largest shareholders.

Elumelu is widely recognised as one of Africa’s most influential business leaders, with investments spanning energy, power, banking, insurance, technology, healthcare, hospitality and real estate.

His appointment comes as Seplat seeks to accelerate growth across its upstream and gas businesses while strengthening its position as a key player in Nigeria’s energy transition agenda.

Commenting on his appointment, Elumelu said he was honoured to succeed Udoma and lead the board through the company’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,” he said.

He added that he looked forward to building on the achievements of the current leadership while delivering greater value to shareholders and other stakeholders.

The company said Okon’s appointment as CEO reflects its commitment to maintaining operational excellence and strategic continuity.

With more than 35 years of industry experience, Okon is regarded as one of Nigeria’s most accomplished energy executives.

Having joined Seplat in 2018 as Operations Director, Okon later served as New Energy Director before becoming Managing Director of the ANOH Gas Processing Company (AGPC).

Under his leadership, the landmark ANOH gas project achieved first gas production in January 2026, a milestone widely seen as critical to Nigeria’s gas development ambitions.

Prior to joining Seplat, Okon spent decades with Royal Dutch Shell, holding senior operational and leadership roles across Africa, Europe, the United States and the Middle East.

Speaking on his appointment, Okon said his immediate priority would be the successful execution of Seplat’s Roadmap 2030 strategy while positioning the company for sustainable long-term growth.

“I am delighted to be taking on this appointment at an important juncture. 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,” he said.

Brown leaves behind a legacy of significant corporate growth and value creation. During his tenure, Seplat completed several landmark transactions, including the acquisition of Eland Oil & Gas in 2019 and the transformational purchase of Mobil Producing Nigeria Unlimited (MPNU) in 2024, which substantially expanded the company’s asset base and production capacity.

Brown also oversaw Seplat’s dual listing on the Nigerian and London stock exchanges and helped establish the company as one of the continent’s most respected indigenous energy firms.

Reflecting on his years at the company, Brown described his time at Seplat as a privilege and expressed confidence in the organisation’s future.
“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,” he said.

Chairman Udoma paid tribute to Brown’s contributions, describing him as a central figure in Seplat’s development journey and crediting him with delivering exceptional returns to shareholders while strengthening the company’s governance standards.

He also welcomed Okon’s appointment, noting that his extensive operational expertise would support the company’s ambitious growth objectives.

Since becoming Independent Chairman in April 2024, Udoma has overseen the integration of the MPNU acquisition and helped shape Seplat’s strategic direction through its Roadmap 2030 initiative.

The board said the succession plan underscores Seplat Energy’s commitment to strong corporate governance, leadership continuity and long-term value creation as the company pursues expansion opportunities across Nigeria’s oil, gas and energy sectors.

With a new chairman-designate and incoming chief executive in place, Seplat is positioning itself for the next phase of growth, leveraging its enlarged asset portfolio, expanding gas infrastructure and strategic investments to strengthen its role in Nigeria’s energy future.