Seplat Energy Announces Elumelu Chairman, Okon CEO, As Brown Retires

Seplat Energy Plc has named Tony Elumelu as its next chairman and appointed Effiong Okon as chief executive officer, the company said in a notice filed on the Nigerian Exchange on Tuesday.

Elumelu will succeed Senator Udoma Udo Udoma and take up the chairmanship in January 2027, while Okon’s appointment as CEO takes effect on 1 August 2026, the filing signed by company secretary Edith Onwuchekwa stated.

The board changes followed Seplat’s ongoing strategy to scale and transform the business.
Tony Elumelu is founder and chairman of Heirs Holdings, a pan‑African investment group with interests across energy, power, banking, insurance, technology, real estate, hospitality and healthcare.

He is also a leading proponent of “Africapitalism,” an investment philosophy focused on long‑term value creation across the continent. Elumelu currently chairs Transcorp Group and the United Bank for Africa (UBA) Group.
Seplat said Elumelu’s experience in corporate governance, institution‑building and long‑term value creation will provide “invaluable guidance” as the company strengthens its position as a resilient, globally competitive energy institution.

The company said that Effiong Okon brings more than 35 years of industry experience and has been with Seplat since 2018.

He served on Seplat’s board as operations director for four years, later became new energy director and most recently was managing director of ANOH Gas Processing Company (AGPC).

Under his leadership at AGPC, the project reached first gas in January 2026, the notice noted.
The board also confirmed the retirement of an existing executive, Richard (Rick) Brown, who will step down as part of the leadership transition. Seplat did not provide further details on Brown’s retirement in the NGX filing.
The appointments will be subject to any required regulatory approvals and align with Seplat’s stated aim of navigating a growth phase that balances traditional hydrocarbons with new energy opportunities.