Tony Elumelu to Chair Seplat Energy as Brown retires in leadership shake-up

Seplat Energy Plc has announced major leadership changes, with billionaire investor and philanthropist Tony O. Elumelu set to become Chairman of the Board in 2027, in a transition that underscores the company’s next phase of expansion and governance continuity.

The announcement also confirms the planned retirement of Chief Executive Officer Roger Brown on July 31, 2026, following what the company described as a transformational tenure marked by aggressive growth, strategic acquisitions and operational expansion across Africa’s energy sector.

In a statement released on Monday, Seplat Energy said the changes are aimed at strengthening leadership continuity while accelerating execution of its long-term 2030 strategic roadmap.

Under Brown’s leadership, Seplat expanded significantly through landmark deals including the acquisition of Mobil Producing Nigeria Unlimited (MPNU) in 2024 and Eland Oil and Gas in 2019, positioning the company as one of Africa’s leading independent energy producers.

The Board announced that Engr. Effiong Okon will succeed Brown as Chief Executive Officer and Executive Director effective August 1, 2026.

Okon, who has been with Seplat since 2018, previously served as Operations Director, New Energy Director, and most recently Managing Director of ANOH Gas Processing Company, where he oversaw the project’s delivery to first gas in January 2026.

The company also confirmed that Chairman Udoma Udo Udoma will retire on December 31, 2026, after steering the board through the integration of MPNU and the development of the company’s 2030 strategic plan.

In a major governance shift, the Board elected Elumelu as incoming Chairman effective January 1, 2027.

Elumelu, Founder of Heirs Holdings and Chairman of United Bank for Africa, holds a 20.07 per cent stake in Seplat through Heirs Holdings and brings decades of investment and corporate leadership experience across energy, banking, insurance, technology and infrastructure sectors.

He is also widely recognised for his pan-African investment advocacy and philanthropic work through the Tony Elumelu Foundation.

Commenting on his appointment, Elumelu said he was honoured to succeed Udoma and committed to driving the next phase of growth for Seplat Energy.

“I firmly believe in the critical role indigenous resources play in the economic transformation of Nigeria and Africa,” he said, adding that the company’s governance culture and execution capacity align with his values.

Incoming CEO Effiong Okon said his immediate priority would be the execution of the company’s 2030 roadmap and long-term value creation across its portfolio.

Outgoing CEO Roger Brown described his tenure as a privilege, noting that Seplat had become a benchmark for financial discipline, strong governance and shareholder value creation.

Chairman Udoma Udo Udoma praised Brown’s leadership, describing him as central to Seplat’s transformation into a leading African independent energy company.

The Board said the succession plan reflects its commitment to stability, strategic continuity and accelerated growth as Seplat positions itself for its next phase of expansion.

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