Seplat Energy has unveiled a significant leadership transition, naming renowned businessman and investor Tony Elumelu as its next Chairman and appointing Engr. Effiong Okon as its new Chief Executive Officer.
According to a notice filed with the Nigerian Exchange Limited (NGX), Elumelu will officially assume the role of Chairman in January 2027, while Okon will take over as CEO on August 1, 2026. The appointments form part of the company’s strategy to strengthen its leadership team and position the business for long-term growth.
Elumelu’s appointment comes after Heirs Energies acquired a 20.07 percent stake in Seplat Energy through a $500 million deal. The acquisition made Heirs Energies the largest shareholder in the indigenous oil and gas company and marked a major milestone in Nigeria’s energy sector.
He will succeed Senator Udoma Udo Udoma, who currently serves as Chairman of the board. Seplat described the transition as the beginning of a new era for the company as it seeks to expand its operations and strengthen its position in the global energy market.
Tony Elumelu is one of Africa’s most influential business leaders. He is the Founder and Chairman of Heirs Holdings, an investment company with interests across several sectors, including energy, banking, technology, healthcare, insurance, hospitality, and real estate. He is also the founder of Africapitalism, a business philosophy that promotes private-sector investments as a driver of economic development across Africa.
In addition to leading Heirs Holdings, Elumelu chairs Transcorp Group and serves as Chairman of United Bank for Africa (UBA), one of the continent’s leading financial institutions. Seplat believes his extensive experience in corporate leadership and value creation will help guide the company through its next phase of development.
Meanwhile, Engr. Effiong Okon will replace Roger Brown, who has served as Seplat’s CEO since August 2020. Okon brings more than 35 years of experience in the energy industry and has played several important roles within Seplat since joining the company in 2018.
He previously served as Operations Director and later became New Energy Director. Most recently, he was the Managing Director of ANOH Gas Processing Company (AGPC), where he helped oversee the successful completion of the ANOH gas project. The project achieved its first gas production in January 2026, a major achievement for Nigeria’s gas sector.
Seplat stated that Okon’s deep understanding of the business, combined with his technical expertise and leadership experience, makes him well suited to lead the company into its next stage of growth.
The leadership changes follow Heirs Energies’ landmark investment in Seplat, which was financed with support from African financial institutions, including Afreximbank and Africa Finance Corporation. The deal also ended Maurel & Prom’s long-standing position as Seplat’s largest shareholder.
With a strengthened ownership structure and a new leadership team, Seplat Energy is positioning itself to expand its energy portfolio, improve operational performance, and remain a key player in Africa’s evolving energy landscape.
