The Board of Directors of Seplat Energy has officially announced the election of Tony Elumelu as the incoming Chairman of the company. This leadership transition will see Elumelu succeed the current Chairman, Senator Udoma Udo Udoma, with effect from January 2027, marking a new era for the energy firm as it pursues further growth and transformation.
Board Changes Announced
In addition to the chairmanship change, the board has appointed Engr. Effiong Okon as the Chief Executive Officer, effective from 1 August 2026. These changes were disclosed in a formal notice filed on the Nigerian Exchange Limited (NGX), signed by the company secretary, Edith Onwuchekwa, on Tuesday, in compliance with the exchange's listing requirements.
Tony Elumelu's Background
Tony Elumelu is the Founder and Chairman of Heirs Holdings, a prominent pan-African investment group with interests in energy, power, banking, insurance, financial services, technology, real estate, hospitality, and healthcare. He is also the pioneer of Africapitalism, an economic philosophy that advocates for unlocking Africa's potential through long-term investments in key sectors to improve lives and transform the continent. Currently, Elumelu serves as Chairman of Transcorp Group, Nigeria's largest quoted conglomerate, which includes subsidiaries such as Transcorp Power and Transcorp Hotels Plc. He also chairs the United Bank for Africa (UBA) Group, a pan-African financial services group.
New CEO's Expertise
Engr. Effiong Okon brings over 35 years of global industry experience to his new role as CEO. He has a strong track record of operational excellence and strategic execution. Okon has been with Seplat since 2018, initially serving on the board as Operations Director for four years, then as New Energy Director, and most recently as Managing Director of ANOH Gas Processing Company (AGPC), where he successfully drove the project to achieve first gas in January 2026.
Future Outlook
As Seplat Energy moves into its next phase of growth, Elumelu's extensive experience in corporate governance, institution-building, and long-term value creation is expected to provide invaluable guidance. The company aims to strengthen its position as a resilient and globally competitive energy institution under this new leadership.
