Seplat Energy Plc, one of Nigeria’s leading indigenous energy companies, has announced major leadership changes with the appointment of prominent businessman and philanthropist Tony O. Elumelu as Chairman of its Board of Directors. The company also named Effiong Okon as Chief Executive Officer, effective immediately.
The dual appointments were disclosed in a corporate filing to the Nigerian Exchange Limited, NGX, and the London Stock Exchange on Monday. The board said the changes are part of a strategic move to strengthen governance and accelerate Seplat’s growth agenda across Nigeria’s energy value chain.
Tony Elumelu CFR, is the Chairman of Heirs Holdings, United Bank for Africa, UBA, and Transcorp Group. He is also founder of the Tony Elumelu Foundation and a leading advocate for Africapitalism. His appointment brings decades of experience in banking, energy, and power to Seplat’s board.
Elumelu succeeds the outgoing Chairman, whose tenure ended following the company’s Annual General Meeting. In a statement, Elumelu said: “Seplat Energy plays a critical role in Nigeria’s energy security and transition. I am honoured to join the board at this pivotal time to support the company’s vision of delivering sustainable energy solutions for Nigeria and Africa.”
Effiong Okon, the new CEO, previously served as Seplat’s Chief Operating Officer and has over 25 years of experience in oil and gas operations, asset management, and corporate strategy. He takes over from the former CEO as part of a planned leadership succession.
“I am committed to driving operational excellence, growing production safely, and deepening our gas business to power Nigeria’s industrialisation,” Okon said in his first address as CEO.
The leadership shakeup comes as Seplat Energy continues to expand its gas business and upstream portfolio. The company recently completed key acquisitions and is a major supplier of gas to Nigeria’s domestic power sector. Analysts say the appointments signal Seplat’s intent to consolidate its position as a leading indigenous energy player amid Nigeria’s energy transition push.
The Board expressed confidence that Elumelu’s track record in corporate governance and capital mobilisation, combined with Okon’s technical and operational expertise, will position Seplat for its next phase of growth.
Following the announcement, Seplat Energy’s shares on the NGX saw increased trading activity. Stakeholders in the energy sector have described the appointments as a “strong statement of intent” for corporate Nigeria.
The company confirmed that all regulatory approvals for the appointments have been secured.
