Elumelu Named Seplat Chairman in Landmark Succession Plan

Seplat Energy PLC has announced a major leadership transition that will see investor Tony Elumelu become Chairman from January 1, 2027, while veteran oil and gas executive Effiong Okon will take over as Chief Executive Officer on August 1, 2026.

The company said the changes are part of a structured succession plan designed to ensure governance continuity and sustained execution of its Roadmap 2030 growth strategy.

–Outgoing leaders–

Current CEO Roger Brown will retire on July 31, 2026, ending a 13-year stint with Seplat, including six years as CEO.

During his tenure, Seplat expanded operations, completed major acquisitions, and strengthened its position as one of Africa’s leading independent energy companies.

Chairman Senator Udoma Udo Udoma will also retire from the board on December 31, 2026, paving the way for Elumelu to assume board leadership.

Heirs Holdings, founded by Elumelu, holds a 20.07% stake in Seplat Energy.

–New leadership focus–

Elumelu, one of Africa’s most influential business leaders with interests in energy, banking, insurance, healthcare, technology, and real estate, said he was honoured to succeed Udoma.

He pledged to drive shareholder value and align with Seplat’s governance and execution culture.

Okon, who joined Seplat in 2018 as Operations Director and later became Managing Director of ANOH Gas Processing Company, brings over 35 years of energy sector experience, including senior roles at Royal Dutch Shell across Africa, Europe, the US, and the Middle East.

Under his leadership, the ANOH gas project achieved first gas in January 2026.

Okon said his focus will be on executing Roadmap 2030 and advancing Seplat’s long-term growth objectives.

–Legacy and outlook–

Brown described his time at Seplat as a privilege, citing major deals including Eland Oil & Gas in 2019 and Mobil Producing Nigeria Unlimited in 2024, plus the company’s dual listing on the Nigerian and London stock exchanges.

Udoma praised Brown’s contributions to shareholder value and governance, and expressed confidence in the incoming team.

Seplat said the succession plan reinforces its commitment to governance, leadership continuity, and value creation as it expands across Nigeria’s oil and gas sector.