Seplat Energy Plc has announced major board and executive leadership changes, including a succession plan that will see businessman Tony Elumelu become chairman of the company effective January 1, 2027.
According to a corporate disclosure by the company, the restructuring is aimed at strengthening its long-term growth strategy while ensuring continuity in governance and leadership.
The company confirmed that the current Chief Executive Officer, Roger Brown, will retire from his role and board membership on July 31, 2026.
It also announced that the incumbent chairman, Senator Udo Udoma, will step down on December 31, 2026, paving the way for Elumelu’s appointment as chairman.
“The board has accordingly elected Mr Tony Elumelu as the next Chairman of Seplat Energy, effective January 1, 2027,” the company stated, noting that he joined the board in January 2026 and holds a significant indirect stake through Heirs Holdings.
Heirs Holdings, founded by Elumelu, is a diversified investment company with interests spanning energy, power, banking, insurance, technology, real estate, hospitality, and healthcare across Africa.
The company described Elumelu as a seasoned investor and philanthropist with a strong track record of value creation across both listed and private enterprises, as well as a prominent advocate for Africa’s economic transformation and governance reform.
Outgoing CEO Roger Brown was credited with leading Seplat Energy through a period of significant expansion and transformation, including major acquisitions such as Eland Oil and Gas in 2019 and Mobil Producing Nigeria Unlimited in 2024.
The board noted that during his 13-year tenure, Brown played a key role in strengthening the company’s financial discipline, corporate governance standards, and shareholder value creation.
Following his retirement, the company announced the appointment of Effiong Okon as the new Chief Executive Officer and Executive Director, effective August 1, 2026.
Okon, who has been with Seplat Energy since 2018, previously served in several senior roles, including Operations Director, New Energy Director, and most recently Managing Director of the ANOH Gas Processing Company, where he led the project to first gas in January 2026.
Describing his appointment, the company said Okon brings more than 35 years of global energy sector experience and a strong record of operational leadership and strategic execution.
Outgoing CEO Brown said his time at Seplat had been marked by sustained growth and resilience.
“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,” he said.
He added that the company had become “synonymous with financial resilience, balanced capital allocation, strong corporate governance and shareholder reward.”
Senator Udo Udoma also commended Brown for his contributions to the company’s development into a leading African independent energy producer.
Incoming CEO Effiong Okon said he was honoured to take on the role at a pivotal moment for the company, pledging to focus on executing its 2030 roadmap and long-term growth strategy.
“I am delighted to be taking on the appointment at an important juncture,” he said.
Tony Elumelu expressed confidence in the company’s future, describing Seplat Energy as a key driver of indigenous participation in Africa’s energy sector.
“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,” he said.
He added that the company’s governance culture and execution strength aligned with his own values and vision for sustainable value creation.
