Seplat Energy Appoints Tony Elumelu as Chairman-Elect and Effiong Okon as CEO Amid Leadership Restructuring
Seplat Energy has announced a major leadership transition, appointing billionaire investor Tony Elumelu as its incoming Chairman effective January 2027, while naming Engr. Effiong Okon as its new Chief Executive Officer from 1 August 2026.
The company disclosed the appointments in a filing with the Nigerian Exchange Limited (NGX), signed by Company Secretary Edith Onwuchekwa.
Elumelu will succeed current Chairman Senator Udoma Udo Udoma. His appointment follows the acquisition of a 20.07% stake in Seplat Energy by Heirs Energies in a $500 million transaction, making it the company’s largest shareholder.
Seplat said Elumelu’s experience in governance, investment, and enterprise development will support its long-term strategy of building a stronger and more globally competitive energy company.
Elumelu is the founder and Chairman of Heirs Holdings and also leads Transcorp Group as well as United Bank for Africa.
He is widely known for promoting Africapitalism, an investment philosophy focused on long-term private sector-led development in Africa.
Engr. Effiong Okon will take over as CEO from Roger Brown, who has led Seplat Energy since August 2020.
Okon brings more than 35 years of oil and gas industry experience and has been part of Seplat since 2018.
He previously served as Operations Director and later as New Energy Director before becoming Managing Director of the ANOH Gas Processing Company.
Seplat credited him with a key role in advancing the ANOH gas project, which achieved first gas in January 2026.
The company said the leadership changes reflect its strategy to strengthen operational capacity, expand its energy portfolio, and position itself for its next phase of growth.
