Seplat Energy Plc has unveiled a sweeping leadership transition plan that will see businessman Tony Elumelu assume the role of Chairman of the Board from January 1, 2027, in a move that signals a new strategic phase for the indigenous energy company.
The company disclosed the changes in a corporate statement outlining both board-level and executive management succession arrangements aimed at ensuring stability, continuity and sustained growth.
Under the plan, current Board Chairman, Senator Udo Udoma, is expected to retire on December 31, 2026, after steering the company through a period of expansion and governance consolidation.
Elumelu, who joined the Seplat board in January 2026, will succeed him at the end of the transition period. He is the Founder and Chairman of Heirs Holdings, which holds a 20.07 per cent stake in Seplat Energy and has extensive investments across energy, banking, insurance, technology and other sectors.
The board said Elumelu’s appointment reflects his long-standing record of value creation and his influence in shaping Africa’s private sector investment landscape. It also described him as a leading advocate for African economic transformation and governance reform.
The transition also affects the executive leadership of the company, with Chief Executive Officer Roger Brown scheduled to retire on July 31, 2026, after a 13-year journey with Seplat in different capacities.
Brown joined the company in 2013 as Chief Financial Officer and played a key role in its dual listing in 2014 before becoming CEO in 2020. During his tenure, Seplat expanded significantly through major deals, including the acquisition of Eland Oil and Gas in 2019 and Mobil Producing Nigeria Unlimited in 2024.
The company credited him with strengthening operational discipline, improving capital efficiency and driving shareholder returns amid a challenging operating environment in Nigeria’s oil and gas sector.
To ensure continuity, Seplat has appointed Effiong Okon as the incoming Chief Executive Officer and Executive Director, effective August 1, 2026. He is expected to succeed Brown and steer the company’s next growth phase.
Okon, an experienced oil and gas executive with over 35 years in the industry, has been part of Seplat since 2018. He has held several senior roles, including Operations Director, New Energy Director, and Managing Director of the ANOH Gas Processing Company, where he oversaw the project’s delivery to first gas in January 2026.
The company said his deep institutional knowledge and operational experience position him strongly to execute Seplat’s 2030 strategic roadmap and long-term growth plans.
In his remarks, Elumelu expressed appreciation for the opportunity to succeed Senator Udoma as Chairman, pledging to support the company’s next phase of expansion and value creation.
He also commended outgoing CEO Roger Brown for his contributions and congratulated Effiong Okon on his appointment, expressing confidence in his ability to lead the company into its next chapter.
The planned leadership changes reflect Seplat Energy’s effort to balance continuity with renewal as it strengthens its position in Nigeria’s upstream oil and gas sector and broader African energy market.
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