Tony Elumelu emerges Seplat Energy Chairman
The Board of Seplat Energy Plc on Tuesday elected Mr. Tony Elumelu,, as the next Chairman of the company, effective January 1, 2027.
Elumelu, who joined the Board in January 2026, is the Founder and Chairman of Heirs Holdings, which has a 20.07per 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. Elumelu has a multi-decade track record of value creation in listed and non-listed entities.
Elumelu is also a distinguished philanthropist, globally recognised as one of the leading voices on Africa’s transformation and governance agenda..
The Board also announced that the Chairman, Senator Udoma Udo Udoma, has given notice of his intention to retire at the end of the year on December 31, 2026. Senator Udoma joined the Board in December 2023 and became Independent Chairman in April 2024. Since assuming the role, he has also worked closely with the Board and Management to oversee the successful integration of MPNU and setting out the 2030 strategic plan for the Company.
In addition, Mr. Roger Brown will retire as Chief Executive Officer and as a Board Director on 31 July 2026. This is coming when he successfully lead the Company during a period of significant strategic expansion and transformation, including the acquisition of Mobil Producing Nigeria Unlimited (‘MPNU’),
During Brown’s 13-year tenure, initially as the Company’s CFO through its landmark dual listing in 2014 and for the past 6 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 is pleased to announce the appointment of Engr. Effiong Okon as Chief Executive Officer and Executive Director commencing August 1, 2026. An accomplished leader with over 35 years of global industry expertise, he brings a formidable track record of operational excellence and strategic execution
Under Brown’s leadership, Seplat Energy has established itself as one of Africa’s leading independent energy companies, with a strong pipeline of organic growth projects.
Chief Executive Officer, Mr. Roger Brown in a statement 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 Government and is well placed to support Nigeria in 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.”
Senator Udoma Udo Udoma in a statement said “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 in the transformational acquisition of MPNU in 2024 and in the Roadmap 2030 strategy that we set out in 2025.
“Roger has been ever present in Seplat Energy’s journey and under his leadership, Seplat Energy has materially outperformed the sector and delivering exceptional returns to shareholders; he leaves us well-placed to continue to deliver 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.”
Incoming Chief Executive Officer, Mr. Effiong 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.”
Incoming Chairman of Seplat Energy, Mr. Tony Elumelu added that: “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.”
