Seplat Energy Names Okon CEO, Elumelu Board Chairman
Seplat Energy Plc has appointed Mr Effiong Okon as Chief Executive Officer from Aug. 1, while Mr Tony Elumelu will become Chairman from Jan. 1, 2027.
The company disclosed the appointments in a corporate filing submitted to the Nigerian Exchange Ltd. (NGX).
It said the leadership changes were aimed at supporting growth ambitions while ensuring continuity in strategy and corporate governance.
According to the statement, the current CEO, Mr Roger Brown, will retire on July 31 after 13 years with the company. Brown served six years as Chief Executive Officer after joining Seplat Energy as Chief Financial Officer in 2013.
The company said Brown played a key role in Seplat Energy’s dual listing in 2014 and major acquisitions. These included Eland Oil and Gas in 2019 and Mobil Producing Nigeria Unlimited (MPNU) in 2024.
It said Brown’s leadership transformed Seplat Energy into one of Africa’s leading independent energy companies. The company attributed this growth to strong financial discipline, asset development and strategic acquisitions.
The Board appointed Okon, Managing Director of ANOH Gas Processing Company (AGPC), as Brown’s successor. Okon has more than 35 years of experience in the global energy industry.
He joined Seplat Energy in 2018 as Operations Director before serving as Director of New Energy. Most recently, he led the ANOH Gas Processing Project to achieve first gas production in January 2026.
Before joining Seplat Energy, Okon spent more than 26 years with Royal Dutch Shell. He held several senior operational and technical positions across Africa, Europe, the Middle East and the United States.
The company also announced that Chairman, Senator Udoma Udo Udoma, will retire on Dec. 31, 2026. Udoma joined the Board in 2023 and became Independent Chairman in 2024.
He oversaw the successful integration of MPNU and development of Seplat Energy’s 2030 strategic roadmap. To succeed him, the Board elected Elumelu, Founder and Chairman of Heirs Holdings.
His appointment as Chairman takes effect from Jan. 1, 2027.
Elumelu joined Seplat Energy’s Board in January 2026. His investment company, Heirs Holdings, holds a 20.07 per cent stake in Seplat Energy. Brown said it had been a pleasure to be part of Seplat Energy’s growth journey since joining in 2013.
“I am immensely proud that we have built a company synonymous with financial resilience, balanced capital allocation, strong governance and shareholder rewards,” he said.
Brown said the company remained a strong and reliable partner to government. He added that Seplat Energy was well positioned to support Nigeria’s ambitious growth targets.
“I thank the Board, management and workforce for their support and look forward to watching the company grow further,” he said.
Udoma praised Brown’s contribution to Seplat Energy’s growth and development.
“His legacy was cemented through the transformational acquisition of MPNU in 2024 and the Roadmap 2030 strategy launched in 2025,” he said.
Udoma said Brown’s leadership enabled the company to outperform the sector and deliver strong returns to shareholders. He said Brown was leaving the company well positioned to continue delivering value to stakeholders.
Udoma also welcomed Okon as incoming Chief Executive Officer. “He has extensive operational experience that will support our ambitious growth aspirations,” he said.
Okon described his appointment as coming at an important stage in the company’s development. “My immediate focus will be executing the 2030 Roadmap while developing a long-term plan to unlock our portfolio’s immense potential,” he said.
Elumelu said he was honoured to succeed Udoma as Chairman in January 2027. He said he looked forward to leading the Board through Seplat Energy’s next phase of growth.
“I firmly believe indigenous resources are critical to the economic transformation of Nigeria and Africa,” he said. Elumelu said Seplat Energy’s culture of execution and governance strongly aligned with his values.
He thanked Udoma and Brown for their stewardship and service to the company. Elumelu also congratulated Okon on his appointment as Chief Executive Officer.
“His deep industry experience gives me confidence that Seplat Energy is well positioned for its next chapter of growth,” he said Fitch Affirms InfraCredit’s Insurer Financial Strength Rating at ‘BB-‘
