Seplat Energy has announced the appointment of Tony Elumelu, founder and chairman of Heirs Holdings, as its incoming chairman.
His tenure is scheduled to begin on January 1, 2027, marking a significant leadership transition at the dual-listed energy firm on both the Nigerian and London Stock Exchanges.
The company described the development as part of a broader governance and leadership restructuring that will reshape its top management.
The move effectively signals a transition in control as the firm prepares for a new phase in its corporate direction.
The current independent chairman, Udoma Udo Udoma, is expected to step down on December 31, 2026, after overseeing a period that included the execution of the company’s 2030 strategic roadmap and the integration of Mobil Producing Nigeria Unlimited (MPNU).
His exit clears the way for Elumelu’s assumption of the role.
At the executive level, Seplat is also undergoing a planned succession.
The current Chief Executive Officer, Roger Brown, is set to hand over leadership to energy executive Effiong Okon, who will assume office as CEO on August 1, 2026.
Following the announcement, Elumelu reacted via his X account, expressing appreciation to the board and outlining his expectations for the company’s next growth phase.
“I am honoured to succeed Senator Udoma as Chairman in January 2027 and to lead the Board through Seplat Energy’s next phase of growth,” Elumelu stated.
He further stressed the importance of indigenous energy firms in driving economic progress across Nigeria and Africa, while also congratulating the incoming CEO.
Industry observers noted that Elumelu’s appointment aligned closely with Heirs Holdings’ significant 20.07 per cent stake in Seplat Energy, positioning him as a central figure in the company’s ownership and governance structure.
Analysts said the shift could strengthen Seplat’s integration within Nigeria’s wider energy value chain.
With Elumelu also linked to major investments across power and infrastructure, the development is seen as part of a growing gas-to-power ecosystem led by domestic investors.
Attention is now focused on how the new leadership team will scale production, boost profitability, and meet international environmental, social, and governance standards while also addressing Nigeria’s energy demands.
Market watchers have also reacted positively to the parallel appointment of Effiong Okon as CEO, citing his decades of technical experience in the global oil and gas industry.
His operational background is viewed as a balance to Elumelu’s investment and corporate strategy expertise.
The Seplat board expressed confidence that the planned transition would strengthen execution of its long-term objectives and support ongoing expansion across its asset portfolio.
