The Nigerian energy firm confirmed on Tuesday that prominent investor Tony Elumelu is slated to become Chairman on January 1, 2027, while seasoned oil executive Effiong Okon will step into the role of Chief Executive Officer from August 1, 2026. The changes, the company said, are part of a carefully structured succession framework aligned with its long-term expansion strategy known as Roadmap 2030.
The company emphasized that the leadership changes are not abrupt but deliberately sequenced to ensure continuity in governance, operational stability, and sustained execution of its strategic priorities across upstream oil and gas and its expanding gas portfolio.
CEO Roger Brown to exit after 13-year Seplat journey
A major milestone in the transition is the retirement of current Chief Executive Officer Roger Brown, scheduled for July 31, 2026. His departure will conclude a 13-year tenure at Seplat, including six years at the helm as CEO.
Reflecting on his time with the company, Brown described his leadership period as deeply rewarding, noting the scale of transformation achieved under his watch. He said it had been a privilege to serve the company and highlighted major corporate milestones, including acquisitions that reshaped Seplat’s asset base and market position.
In his words, he described his experience by saying it was a defining chapter in his career, noting that Seplat had expanded significantly through strategic deals such as the acquisition of Eland Oil & Gas in 2019 and Mobil Producing Nigeria Unlimited (MPNU) in 2024. He also oversaw the company’s dual listing on the Nigerian Exchange and the London Stock Exchange, strengthening its global investor profile.
Effiong Okon to steer operations into next growth phase
The incoming CEO, Effiong Okon, is being elevated from his current leadership role within the organisation, where he has served as Operations Director, New Energy Director, and most recently Managing Director of the ANOH Gas Processing Company (AGPC).
Seplat Energy Plc credited Okon’s operational track record as a key reason for his appointment, highlighting his role in delivering first gas from the ANOH project in January 2026—a development widely seen as a critical milestone in Nigeria’s domestic gas development ambitions.
Okon brings more than 35 years of experience in the global energy industry, including a long career at Royal Dutch Shell, where he held senior operational and leadership positions across Africa, Europe, the United States, and the Middle East. His appointment is expected to reinforce operational continuity while accelerating execution of the company’s Roadmap 2030 strategy.
Speaking on his new role, Okon said: “his focus would be on executing Seplat’s Roadmap 2030 strategy and advancing the company’s long-term growth objectives.”
Tony Elumelu to take over board chairmanship in 2027
On the governance side, Seplat confirmed that current Chairman Senator Udoma Udo Udoma will retire from the board on December 31, 2026, paving the way for Tony Elumelu, Founder and Chairman of Heirs Holdings, to assume the chairmanship at the start of 2027. Heirs Holdings currently holds a 20.07 per cent stake in Seplat Energy.
Elumelu, one of Africa’s most prominent business figures with investments spanning energy, banking, insurance, healthcare, technology, and real estate, is expected to play a central role in shaping the company’s next phase of expansion.
In his reaction to the appointment, he said: “I was honoured to succeed Udoma and lead the company into its next phase of growth,” adding that Seplat’s governance structure and execution culture align with his personal values. He also noted his commitment to driving value creation for shareholders and broader stakeholders.
Governance continuity and investor confidence at the core
Outgoing Chairman Senator Udoma Udo Udoma commended the leadership transition plan, praising outgoing CEO Roger Brown for his contributions to strengthening governance and delivering shareholder value. He expressed confidence in the incoming leadership team and reaffirmed the board’s commitment to Seplat’s long-term strategic direction.
As the succession plan takes shape, the company stressed that the changes reflect a deliberate focus on governance continuity, leadership renewal, and sustained value creation.
With expanded assets, growing gas infrastructure, and continued investment in Nigeria’s energy transition, Seplat says it is positioning itself for what it describes as its next phase of growth under the Roadmap 2030 framework.