Seplat Energy Plc has announced the appointment of renowned investor and business leader, Tony Elumelu, as Chairman of its Board of Directors, effective January 2027, as part of a significant leadership transition designed to position the company for its next phase of growth and expansion.
The company also announced the appointment of Engr. Effiong Okon as its new Chief Executive Officer, effective August 1, 2026.
The appointments were disclosed in a notice filed with the Nigerian Exchange Limited on Tuesday and signed by the company secretary, Edith Onwuchekwa.
Elumelu’s emergence as Chairman follows the acquisition of a 20.07 per cent stake in Seplat Energy by through a $500 million transaction that positioned the company as the single largest shareholder in the dual-listed energy firm.
He will succeed Udoma Udo Udoma, who currently serves as Chairman of Seplat Energy.
According to the company, the appointment marks the beginning of a new chapter in its corporate evolution as it seeks to strengthen its position as one of Africa’s leading indigenous energy companies.
Seplat noted that Elumelu’s extensive experience in corporate governance, institution building, entrepreneurship and value creation would be instrumental in advancing the company’s strategic ambitions.
Elumelu is the Founder and Chairman of , a pan-African investment group with interests spanning energy, power, financial services, insurance, technology, real estate, hospitality and healthcare.
He is also widely recognised as the proponent of Africapitalism, an economic philosophy that advocates long-term private sector investments as a catalyst for Africa’s economic transformation.
Beyond his investment activities, Elumelu currently chairs , one of Nigeria’s largest listed conglomerates, with significant investments in the power and hospitality sectors through subsidiaries such as and .
He also serves as Chairman of , one of Africa’s leading financial institutions.
Seplat Energy said Engr. Okon will take over from Roger Brown, who has served as Chief Executive Officer since August 1, 2020.
The company described Okon as a seasoned industry professional with more than 35 years of experience in the oil and gas sector.
Since joining Seplat in 2018, Okon has held several strategic positions, including Operations Director and New Energy Director. Most recently, he served as Managing Director of the .
Seplat credited him with playing a pivotal role in the successful delivery of the ANOH gas project, which achieved first gas production in January 2026.
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The company said his deep operational expertise, leadership experience and understanding of the business make him well positioned to lead Seplat as it diversifies its energy portfolio and pursues long-term growth opportunities.
The appointments come at a critical period for Seplat Energy as it seeks to consolidate recent gains, strengthen shareholder value and expand its footprint in Nigeria’s evolving energy sector.
The company expressed confidence that the incoming leadership team would provide the strategic direction required to drive innovation, operational excellence and sustainable growth in the years ahead.
