Energy giant Seplat names Tony Elumelu as chairman, appoints Effiong Okon CEO

Seplat Energy has announced a major leadership shake-up that will see billionaire investor, Tony Elumelu, assume the position of Chairman of the company effective January 2027, marking a new phase in the company’s corporate direction.

The energy firm also disclosed the appointment of Engr. Effiong Okon as its new Chief Executive Officer, set to take over from August 1, 2026, as part of a carefully structured succession plan aimed at strengthening operations and expanding growth across Nigeria’s oil and gas sector.

According to a statement filed on the Nigerian Exchange Limited (NGX) and signed by Company Secretary Edith Onwuchekwa, the leadership changes are part of Seplat’s long-term strategy to deepen governance, boost efficiency, and position the firm for global competitiveness.

Elumelu’s elevation to the board chairmanship follows Heirs Energies’ acquisition of a 20.07% stake in Seplat Energy in a landmark $500 million deal, making it the single largest shareholding position in the company. His appointment will also see him succeed Senator Udoma Udo Udoma as Board Chairman.

Seplat said Elumelu’s track record in corporate governance, institutional development, and value creation across Africa makes him well-suited to guide the company through its next growth phase. The business leader currently chairs United Bank for Africa (UBA) Group and has built a reputation as one of Africa’s most influential investors.

Meanwhile, Engr. Effiong Okon brings over 35 years of industry experience into the CEO role, having held several senior positions within Seplat since joining in 2018. He previously served as Operations Director, New Energy Director, and most recently Managing Director of the ANOH Gas Processing Company, where he oversaw the project’s delivery to first gas in January 2026.

Seplat noted that Okon’s technical expertise and deep operational experience within the company position him to steer its next phase of expansion, particularly as it strengthens its gas development portfolio and pursues long-term energy security initiatives.

The transition underscores what analysts describe as a “strategic realignment” within Seplat Energy, as ownership restructuring and leadership renewal converge to shape the company’s future trajectory in Nigeria’s evolving energy landscape.

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