Seplat Unveils Leadership Succession Plan, Names Elumelu Chairman, Appoints Effiong Okon CEO

Seplat Energy has unveiled a major leadership transition that will see businessman Tony Elumelu assume the position of Chairman from January 1, 2027, while seasoned oil and gas executive Effiong Okon takes over as Chief Executive Officer from August 1, 2026.

The appointments form part of a succession plan designed to ensure leadership continuity and support the company’s long-term growth ambitions under its Roadmap 2030 strategy.

As part of the transition, current CEO Roger Brown will retire on July 31, 2026, after spending 13 years with the company, including six years at the helm. Seplat said Brown’s tenure was marked by significant expansion, strategic acquisitions and the strengthening of the company’s position as one of Africa’s leading independent energy firms.

The company also announced that Board Chairman Udoma Udo Udoma will step down on December 31, 2026. His exit will pave the way for Elumelu, Founder and Chairman of Heirs Holdings, to assume leadership of the board. Heirs Holdings currently holds a 20.07 per cent stake in Seplat Energy.

Reacting to his appointment, Elumelu described the opportunity as an honour and pledged to build on the company’s achievements.

He said Seplat’s strong governance structure and culture of execution align with his values, adding that he remains committed to delivering sustainable value for shareholders and other stakeholders.

Okon, who will become CEO in August, brings more than three decades of industry experience to the role. Since joining Seplat in 2018 as Operations Director, he has served in several leadership positions, including New Energy Director and Managing Director of the ANOH Gas Processing Company.

Under his leadership, the ANOH gas project achieved first gas production in January 2026, a significant milestone for Nigeria’s gas development agenda.

Before joining Seplat, Okon spent several years with Royal Dutch Shell, holding senior operational and management positions across Africa, Europe, the United States and the Middle East.

Speaking on his new role, Okon said his focus would be on delivering the company’s Roadmap 2030 objectives and sustaining long-term growth.

In his farewell remarks, Brown described his time at Seplat as a privilege, highlighting key milestones during his tenure, including the acquisition of Eland oil&gas in 2019 and Mobil Producing Nigeria Unlimited in 2024. He also oversaw the company’s dual listing on the Nigerian and London stock exchanges.

Udoma praised Brown’s contributions, saying his leadership helped strengthen corporate governance and create substantial value for shareholders. He also expressed confidence in the incoming leadership team.

According to Seplat, the succession plan underscores its commitment to strong governance, leadership continuity and sustainable value creation as it continues to expand its footprint in Nigeria’s energy sector.

With an enlarged asset base, growing gas infrastructure and a new leadership team set to take charge, the company said it is positioning itself for its next phase of growth and transformation.