Seplat Energy Plc has announced a significant leadership transition, with renowned entrepreneur and investor Tony O. Elumelu set to assume the role of Chairman effective January 1, 2027.
The move aligns with the company’s long-term growth strategy and 2030 roadmap.The company also confirmed that its current Chairman, Senator Udoma Udo Udoma, will retire from the Board on December 31, 2026.
During his tenure, Udoma oversaw a period of strategic expansion, including the successful integration of Mobil Producing Nigeria Unlimited (MPNU) and the formulation of Seplat Energy’s 2030 strategic plan.
The Board has elected Mr Tony O. Elumelu, CFR, as the next Chairman of Seplat Energy, effective January 1, 2027. Mr Elumelu, who joined the Board in January 2026, is the Founder and Chairman of Heirs Holdings, which has a 20.07% shareholding in Seplat Energy. Heirs Holdings is a diversified investment company with interests across strategic sectors of the African economy, including energy, power, banking, insurance, technology, real estate, hospitality, and healthcare. Mr Elumelu has a multi-decade track record of value creation in listed and non-listed entities. Mr Elumelu is also a distinguished philanthropist, globally recognised as one of the leading voices on Africa’s transformation and governance agenda.
In a parallel leadership transition, Chief Executive Officer Roger Brown will retire on July 31, 2026, ending a 13-year tenure with the company, including six years as CEO. Brown played a pivotal role in Seplat Energy’s transformation, leading major acquisitions, including Eland Oil & Gas in 2019 and the landmark acquisition of MPNU in 2024.
The Board has appointed Engr. Effiong Okon as Chief Executive Officer and Executive Director, effective August 1, 2026. Okon, who currently serves as Managing Director of the ANOH Gas Processing Company, brings more than 35 years of industry experience and has held several leadership positions within Seplat Energy and Royal Dutch Shell.
Mr Roger Brown, Chief Executive Officer, said: “It has been the greatest pleasure to be part of Seplat Energy’s growth since joining in 2013 as CFO and having led the Company as CEO since August 2020. I am immensely proud that we have built a Company that has now become synonymous with financial resilience, balanced capital allocation, strong corporate governance and shareholder reward. The Company is a strong and reliable partner to the Government and is well-placed to support Nigeria in achieving its ambitious growth targets. I want to personally thank the Board, Management and the entire workforce for all the support they have given me over the years, and I look forward to watching the Company grow from strength to strength.”
Senator Udoma Udo Udoma, Chairman of Seplat Energy, commented: “On behalf of the entire Company, I wish to express our sincerest thanks to Roger for his exceptional contribution to the development of Seplat Energy into a leading African independent energy company. His legacy was cemented by the transformational acquisition of MPNU in 2024 and by the Roadmap 2030 strategy we set out in 2025. Roger has been ever-present in Seplat Energy’s journey, and under his leadership, the Company has materially outperformed the sector and delivered exceptional returns to shareholders. He leaves us well-placed to continue delivering for all our stakeholders. I would also like to welcome Mr Okon as our incoming CEO. He has extensive operational experience that will support our ambitious growth aspirations.”
Mr Effiong Okon, Incoming Chief Executive Officer, said: “I am delighted to be taking on this appointment at an important juncture. My immediate focus will be on ensuring the Company executes the 2030 Roadmap, alongside development of the long-term plan to ensure we deliver on the immense potential inherent in our portfolio.”
Mr Tony O. Elumelu, Incoming Chairman of Seplat Energy, commented: “I am honoured to succeed Senator Udoma as Chairman in January 2027 and to lead the Board through Seplat Energy’s next phase of growth. I firmly believe in the critical role indigenous resources play in the economic transformation of Nigeria and Africa, and Seplat Energy’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 Seplat Energy is well-positioned for its next chapter of growth.”
Profile of Mr Effiong Okon
Mr Effiong Okon has over 35 years of industry experience. He joined Seplat Energy PLC in 2018 as Executive/Operations Director, during which he was accountable for the company’s operational performance and championed several business improvement initiatives geared towards operational excellence. He was appointed Director of New Energy in July 2022 to drive growth in the midstream gas business and was accountable for delivering the Company’s energy transition strategy. Including developing a roadmap for decarbonising upstream operations, to support the Company’s net zero strategy and developing new opportunities in integrated gas, power and renewable energy in Nigeria. In 2024, he was appointed Managing Director of ANOH Gas Processing Company, where he led project execution, commissioning, start-up, completion, and first gas in January 2026.
Before joining Seplat, he cultivated a globally diverse operations portfolio over a distinguished 26-year career at Royal Dutch Shell, spanning Africa, the USA, Europe, and the Middle East. He was appointed Vice President of Cost Leadership & Continuous Improvement (Netherlands), served as General Manager of Deepwater Production (Nigeria), managing Shell’s largest deepwater asset globally and General Manager of Offshore Assets (Deepwater and Shallow Water). Notably, he also served as Deputy Vice President Technical/Manager North Field Wells and Reservoir (the largest gas field in the world – straddled Iran and Qatar) and in the leadership team for the commissioning, start-up and early production phase of two mega-projects, Pearl GTL and Qatar Gas LNG Trains 7 & 8, for Qatar Shell, and Chief Reservoir Engineer for Shell EP Sub-Saharan Africa.
Mr Okon is an alumnus of the University of Benin, Nigeria, IMD Business School, Lausanne, Switzerland and Harvard Business School, Boston, Massachusetts, USA. He is a Member of The Society of Petroleum Engineers (SPE), Fellow Nigeria Society of Engineers (FNSE) and Fellow of the Energy Institute (FEI) UK.
The Board believes this succession plan will support the Company’s strategic vision as it executes its 2030 plan and strives to accelerate growth projects in its portfolio.
