Seplat Energy Plc has announced a significant leadership transition that will see prominent investor Tony Elumelu assume the position of Chairman from January 1, 2027, while veteran oil and gas executive Effiong Okon will become Chief Executive Officer effective August 1, 2026.

The company disclosed the changes on Tuesday, describing them as part of a structured succession plan aimed at ensuring continuity in governance and sustained execution of its long-term growth strategy under its Roadmap 2030 agenda.

According to the announcement, current Chief Executive Officer Roger Brown will retire on July 31, 2026, bringing to a close a 13-year tenure with the company, including six years as CEO. His departure marks what Seplat described as a transformative period during which the firm expanded its operations, completed major acquisitions and strengthened its position as one of Africa’s leading independent energy companies.

Seplat also confirmed that its Chairman, Senator Udoma Udo Udoma, will retire from the board on December 31, 2026, clearing the way for Elumelu, Founder and Chairman of Heirs Holdings, to assume leadership of the board at the start of 2027. Heirs Holdings currently holds a 20.07 per cent stake in Seplat Energy.

Elumelu is widely regarded as one of Africa’s most influential business leaders, with investments spanning energy, banking, insurance, healthcare, technology and real estate.

His appointment Is expected to bolster Seplat’s ambitions in expanding its upstream and gas operations as well as advancing its role in Nigeria’s energy transition agenda.

In his remarks, Elumelu said he was honoured to succeed Udoma and lead the company into its next phase of growth, adding that Seplat’s governance structure and execution culture align with his values.

He also expressed commitment to delivering increased value to shareholders and stakeholders.

Effiong Okon’s appointment as Chief Executive Officer was described by the company as a move to ensure operational continuity and strategic stability. Okon brings more than 35 years of experience in the energy sector.

He joined Seplat in 2018 as Operations Director and later served as New Energy Director before becoming Managing Director of the ANOH Gas Processing Company (AGPC).

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

Before joining Seplat, Okon spent decades at Royal Dutch Shell, where he held senior operational and leadership roles across Africa, Europe, the United States and the Middle East.

Speaking on his appointment, Okon said his focus would be on executing Seplat’s Roadmap 2030 strategy and advancing the company’s long-term growth objectives.

Roger Brown, in his farewell remarks, described his time at Seplat as a privilege, noting that the company had achieved significant growth during his tenure, including major acquisitions such as Eland Oil & Gas in 2019 and Mobil Producing Nigeria Unlimited (MPNU) in 2024.

He also oversaw the company’s dual listing on the Nigerian and London stock exchanges.

Chairman Udoma praised Brown’s contributions, crediting him with delivering strong shareholder value and strengthening 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 expansion across Nigeria’s oil and gas sector.

With the transition plan now in place, Seplat Energy said it is positioning itself for its next phase of growth, supported by an expanded asset base, growing gas infrastructure and continued investment in Nigeria’s energy future. (The Guardian)

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