Photo caption: Tony Elumelu
Seplat Energy Plc has announced the appointment of Nigerian billionaire investor and business leader, Mr. Tony Elumelu, as its Chairman-Designate. Elumelu will take full charge as the Chairman of the top energy firm on January 1, 2027, as its current Chairman, Senator Udoma Udo Udoma, will retire from the Board on December 31, 2026.
Elumelu, who joined the Board in January 2026, is the Founder and Chairman of Heirs Holdings, which has a 20.07% shareholding in Seplat Energy. The business mogul is also the Chairman of United Bank for Africa Plc.
The incoming Chair is widely recognised as one of Africa’s most influential business figures with significant investments spanning banking, energy, insurance, technology, real estate, hospitality and healthcare.
Seplat Energy also said its Chief Executive Officer (CEO) Roger Brown will retire on July 31, 2026, ending a 13-year tenure with the company, including six years as CEO.
According to the company, Brown played a pivotal role in Seplat Energy’s transformation, leading major acquisitions, including Eland Oil & Gas in 2019 and the landmark acquisition of MPNU in 2024.
Photo caption: Effiong Okon
Engr. Effiong Okon, who currently serves as Managing Director of the ANOH Gas Processing Company, will succeed Brown as the CEO, effective August 1, 2026. Okon brings more than 35 years of industry experience and has held several leadership positions within Seplat Energy and Royal Dutch Shell.
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. The Company is a strong and reliable partner to the Government and is well-placed to support Nigeria in achieving its ambitious growth targets. I want to personally thank the Board, Management and the entire workforce for all the support they have given me over the years, and I look forward to watching the Company grow from strength to strength.”
Udoma commented: “On behalf of the entire Company, I wish to express our sincerest thanks to Roger for his exceptional contribution to the development of Seplat Energy into a leading African independent energy company. His legacy was cemented by the transformational acquisition of MPNU in 2024 and by the Roadmap 2030 strategy we set out in 2025. Roger has been ever-present in Seplat Energy’s journey, and under his leadership, the Company has materially outperformed the sector and delivered exceptional returns to shareholders. He leaves us well-placed to continue delivering for all our stakeholders. I would also like to welcome Mr Okon as our incoming CEO. He has extensive operational experience that will support our ambitious growth aspirations.”
Okon said: “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.”
Elumelu, the incoming Chair commented: “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.”
