Seplat Energy Plc has announced a major leadership transition, with billionaire investor and philanthropist Tony O. Elumelu, CFR, 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, 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.
Commenting on his appointment Elumelu said:
“I am honoured to succeed Senator Udoma as Chairman in January 2027 and to lead the Board through @SeplatEnergys next phase of growth. I firmly believe in the critical role indigenous resources play in the economic transformation of Nigeria and Africa, and Seplat’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 @SeplatEnergy is well positioned for its next chapter of growth,”
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.