Seplat Energy Plc has announced a major leadership transition, with billionaire investor and philanthropist Tony O. Elumelu set to assume the role of Chairman in 2027, as part of a succession plan aimed at strengthening governance and driving the company’s next phase of growth.
The development also confirms the retirement of Chief Executive Officer Roger Brown, scheduled for July 31, 2026, bringing to a close what the company described as a transformational tenure marked by expansion, strategic acquisitions, and operational growth across Africa’s energy sector.
In a statement released on Monday, Seplat Energy said the leadership changes are designed to ensure continuity while accelerating the execution of its long-term 2030 strategic roadmap.
Under Brown’s leadership, the company recorded significant growth through landmark acquisitions, including Eland Oil and Gas in 2019 and Mobil Producing Nigeria Unlimited (MPNU) in 2024, positioning Seplat as one of Africa’s leading independent energy companies.
The Board announced that Engr. Effiong Okon will succeed Brown as Chief Executive Officer and Executive Director, effective August 1, 2026.
Okon, who joined Seplat in 2018, previously served as Operations Director and New Energy Director, and most recently as Managing Director of ANOH Gas Processing Company, where he oversaw the project’s delivery to first gas in January 2026.
The company further disclosed that its current Chairman, Udoma Udo Udoma, will retire on December 31, 2026, after leading the board through key milestones, including the integration of MPNU and the development of the company’s 2030 strategic plan.
In a significant governance shift, the Board elected Elumelu as incoming Chairman, effective January 1, 2027.
Elumelu, Founder of Heirs Holdings and Chairman of United Bank for Africa, holds a 20.07 per cent stake in Seplat through Heirs Holdings and brings decades of experience in investment and corporate leadership across energy, banking, insurance, technology, and infrastructure.
He is also widely recognised for his pan-African investment advocacy and philanthropic efforts through the Tony Elumelu Foundation.
Commenting on his appointment, Elumelu expressed appreciation to the Board and reaffirmed his commitment to advancing the company’s growth trajectory.
“I firmly believe in the critical role indigenous resources play in the economic transformation of Nigeria and Africa,” he said, adding that Seplat’s governance culture and execution capacity align with his values.
Incoming CEO, Effiong Okon, said his immediate focus would be on delivering the company’s 2030 roadmap and creating long-term value across its operations.
Outgoing CEO Roger Brown described his tenure as a privilege, noting that Seplat has evolved into a benchmark for financial discipline, strong corporate governance, and shareholder value creation.
Chairman Udoma Udo Udoma also commended Brown’s leadership, describing him as instrumental to Seplat’s transformation into a leading African independent energy company.
The Board said the succession plan reflects its commitment to stability, strategic continuity, and accelerated growth as the company positions itself for its next phase of expansion.
Credit: thenationonlineng.net
