Seplat Energy Plc has announced a major leadership transition, appointing renowned businessman and investor Tony Elumelu as the next Chairman of the company while naming Engr. Effiong Okon as Chief Executive Officer.
The appointments were disclosed in a notice filed with the Nigerian Exchange Limited (NGX) and signed by the Company Secretary, Edith Onwuchekwa.
According to the company, Elumelu will succeed the current Chairman, Senator Udoma Udo Udoma, effective January 2027, while Okon will assume the role of Chief Executive Officer on August 1, 2026.
The appointments represent a leadership shift for one of Nigeria’s leading indigenous energy companies as it seeks to strengthen its position within Africa’s evolving energy landscape.
Elumelu is the Founder and Chairman of Heirs Holdings, a pan-African investment company with interests spanning energy, power, financial services, technology, healthcare, hospitality and real estate.
He is also widely recognized as the founder of Africapitalism, a development philosophy that promotes long-term private sector investments as a catalyst for economic transformation across Africa.
Beyond Heirs Holdings, Elumelu currently serves as Chairman of the United Bank for Africa (UBA) Group and the Transcorp Group, one of Nigeria’s largest listed conglomerates with investments in power generation, hospitality and other strategic sectors.
Seplat Energy said Elumelu’s extensive experience in corporate governance, institution building and value creation will support the company’s next phase of growth and strategic development.
The company noted that his appointment comes at a critical period as Seplat continues to expand its operations and strengthen its position as a resilient and globally competitive energy company.
Alongside the board transition, Seplat announced the appointment of Engr. Effiong Okon as Chief Executive Officer.
Okon brings more than 35 years of industry experience and has held several leadership positions within Seplat since joining the company in 2018.
He initially served as Operations Director before becoming New Energy Director and most recently Managing Director of the ANOH Gas Processing Company (AGPC).
Under his leadership at AGPC, the project successfully achieved first gas production in January 2026, a milestone regarded as one of the most significant developments in Nigeria’s gas sector in recent years.
The board expressed confidence that Okon’s operational expertise and deep understanding of the company’s business will provide continuity and support Seplat’s long-term growth objectives.
The leadership changes come as Seplat continues to strengthen its upstream and gas operations while positioning itself to benefit from increasing demand for domestic gas, energy security initiatives and broader energy transition opportunities across Africa.
Investors are expected to closely monitor the transition given Elumelu’s track record in building successful institutions and Okon’s experience in executing large-scale energy projects.
