Big Moves! Tony Elumelu Elected as Incoming Chairman of Seplat Energy

Seplat Energy Plc, Nigeria’s leading indigenous energy company, has officially announced a massive leadership transition. The billionaire investor and business leader, Tony O. Elumelu, has been elected as the next Chairman of the board, with his appointment taking effect from 1 January 2027.

Elumelu, who joined the Seplat Board in January 2026, is famously the Founder and Chairman of Heirs Holdings, which holds a substantial 20.07% shareholding in Seplat Energy. Known globally for his incredible track record of value creation and his economic philosophy of Africapitalism, his upcoming chairmanship marks an exciting new chapter for the dual-listed giant, which trades on both the Premium Board of the Nigerian Exchange Limited (NGX: SEPLAT) and the Main Market of the London Stock Exchange (LSE: SEPL).

The board also announced that the current Independent Chairman, Udoma Udo Udoma, will officially retire on 31 December 2026. Since stepping into the role in April 2024, Senator Udoma has done phenomenal work, overseeing the highly successful integration of MPNU and articulating Seplat Energy’s robust 2030 strategic plan. In tandem with this transition, Effiong Okon has been appointed as the new Chief Executive Officer and Executive Director.

Sharing his vision and gratitude on the monumental appointment, Tony Elumelu stated:

I am honoured to succeed Senator Udoma as Chairman in January 2027 and to lead the Board through Seplat’s next phase of growth. I firmly believe in the critical role indigenous resources play in the economic transformation of Nigeria and Africa, and Seplat’s culture of execution and governance aligns strongly with my own values.

I thank Senator Udoma and Roger for their stewardship and look forward to delivering further value for shareholders. I also congratulate Mr. Okon on his appointment as Chief Executive Officer. His deep industry experience gives me great confidence that Seplat is well positioned for its next chapter of growth.

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