Akakan Umoh
In what looks like a major shake-up, Seplat Energy Plc has announced a transition with businessman, Tony Elumelu as its Chairman from January 1, 2027, while veteran oil and gas executive Effiong Okon assumes the role of Chief Executive Officer from August 1, 2026.
The company announced the changes on Tuesday as part of a structured succession plan designed to ensure continuity in governance and execution of its long-term growth strategy under its Roadmap 2030 agenda.
To this end, the company said Chairman Senator Udoma Udo Udoma. who holds 55,071 shares in the Company which equates to a voting interest of 0.00935% based on the issued shares of 588,444,561, will retire from the board on December 31, 2026.
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This will pave the way for Elumelu, Founder and Chairman of Heirs Holdings, to take over leadership of the board at the start of 2027. Heirs Holdings currently owns a 20.07% stake in Seplat Energy.
Elumelu, whose investments span energy, banking, insurance, healthcare, technology and real estate, said he was honoured to succeed Udoma and lead the company into its next phase of growth.
Under the transition plan, current Chief Executive Officer Roger Brown will retire on July 31, 2026, after 13 years with the company, including six years as CEO. Seplat said his tenure oversaw a period of significant expansion, major acquisitions and growth in its position as one of Africa’s leading independent energy companies.
He said Seplat’s governance framework and execution culture align with his values and expressed commitment to delivering greater value to shareholders and stakeholders.
Seplat said Okon’s appointment as CEO is intended to ensure operational continuity and strategic stability, bringing more than 35 years of experience in the energy industry.
Okon joined Seplat in 2018 as Operations Director before serving as New Energy Director and later Managing Director of the ANOH Gas Processing Company. Under his leadership, the ANOH gas project achieved first gas production in January 2026, a milestone for Nigeria’s gas development plans.
Before joining Seplat, he spent several decades at Royal Dutch Shell, holding senior operational and leadership positions across Africa, Europe, the United States and the Middle East.
Speaking on his appointment, Okon said his priority would be to execute Seplat’s Roadmap 2030 strategy and advance the company’s long-term growth objectives.
In his farewell remarks, Brown described his years at Seplat as a privilege, highlighting the company’s growth during his tenure, including the acquisition of Eland Oil & Gas in 2019 and Mobil Producing Nigeria Unlimited in 2024. He also oversaw Seplat’s dual listing on the Nigerian and London stock exchanges.
Udoma commended Brown’s contributions, saying he had delivered strong shareholder value and strengthened corporate governance. He also expressed confidence in the incoming leadership team and reaffirmed the board’s commitment to Seplat’s long-term strategy.
The company said the succession plan reflects its focus on governance, leadership continuity and sustained value creation as it pursues further expansion across Nigeria’s oil and gas sector.
With the transition framework now in place, Seplat said it is positioning itself for its next phase of growth, backed by an expanded asset base, growing gas infrastructure and continued investment in Nigeria’s energy sector.
