Seplat Energy has unveiled a major leadership transition, naming billionaire investor Tony Elumelu as its next chairman and appointing veteran oil and gas executive Effiong Okon as its new Chief Executive Officer.
The appointments were announced in a notice filed with the Nigerian Exchange (NGX), marking a significant succession plan for one of Nigeria’s largest indigenous energy companies. Effiong Okon will assume the role of CEO on August 1, 2026, while Elumelu is set to become Chairman on January 1, 2027.
Okon will succeed Roger Brown, who is retiring after 13 years with Seplat, including nearly six years as CEO. During Brown’s tenure, the company expanded its asset base through major acquisitions and strengthened its position in Nigeria’s energy sector.
A seasoned industry professional with more than 35 years of experience, Okon has held several leadership roles within Seplat since joining the company in 2018. Most recently, he served as Managing Director of the ANOH Gas Processing Company, where he oversaw the achievement of first gas production in January 2026.
Elumelu’s elevation to chairman comes less than a year after he joined Seplat’s board as a non-executive director in January 2026. His appointment followed the acquisition of a 20.07 per cent stake in Seplat by Heirs Holdings and Heirs Energies in a deal valued at about $500 million, making the group the company’s largest shareholder.
The founder and chairman of Heirs Holdings, Elumelu is one of Africa’s most prominent investors, with interests spanning energy, banking, hospitality, healthcare and technology. He will succeed Senator Udoma Udo Udoma, who currently chairs the board.
The leadership changes come as Seplat pushes ahead with its 2030 growth strategy, focusing on expanding its oil and gas operations, strengthening gas infrastructure, and exploring new energy opportunities as part of Nigeria’s evolving energy landscape.
