The chairman of United Bank for Africa and Transnational Corporation of Nigeria, Tony Elumelu, has been appointed chairman of Seplat Energy, effective January 2027, taking over from Udo Udoma.
Announcing the appointment in a statement posted on his X handle on Tuesday, Mr Elumelu said he is “honoured to succeed Senator Udoma” and pledged to lead the board through what he called the company’s “next phase of growth.”
“I am honoured to succeed Senator Udoma as Chairman in January 2027 and to lead the Board through SeplatEnergy’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,” Mr Elumelu said.
He acknowledged the outgoing leadership for their stewardship.
“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 SeplatEnergy is well positioned for its next chapter of growth,” he said.
Seplat Energy had earlier on Tuesday disclosed in a regulatory filing that Mr Elumelu will take office on 1 January 2027, replacing Udoma Udo Udoma, who has informed the board of the company of his intention to retire on 31 December.
“The board believes this succession plan will support the company’s strategic vision as it executes the delivery of its 2030 plan and strives to accelerate the growth projects in its portfolio,” the Seplat Energy document stated.
Seplat Energy said Mr Elumelu has a multi-decade track record of value creation in listed and non-listed entities, noting that he is also a distinguished philanthropist, globally recognised as one of the leading voices on Africa’s transformation and governance agenda.
In January, Mr Elumelu joined the board of Seplat Energy after acquiring the 20.1 per cent stake previously held by Maurel & Prom S.A through Heirs Energies in a transaction valued in the neighbourhood of $500 million.
The company has also named a new Chief Executive Officer in the person of Effiong Okon, effective from 1 August.
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He will replace Roger Brown, who over the years has led the company through significant transformation, including milestones such as the acquisition of Mobil Producing Nigeria Unlimited in 2024, the takeover of Eland Oil and Gas in 2019 and the dual-listing of the corporation in 2014. Mr Brown will exit Seplat Energy by way of retirement on 31 July.
Seplat Energy described Mr Okon as a seasoned industry executive with more than 35 years of experience and a strong understanding of the company’s operations, having served in several leadership positions since joining the firm in 2018.
The energy company said Mr Okon was managing director of ANOH Gas Processing Company (AGPC), where he led the project to first gas in January 2026.
Mr Okon said his immediate focus will be on ensuring the company executes the 2030 roadmap.
“I am delighted to be taking on this appointment at an important juncture. My immediate focus will be on ensuring the company executes the 2030 roadmap, alongside development of the long-term plan to ensure we deliver on the immense potential inherent in our portfolio,” he said.
