Seplat Energy has announced a major leadership restructuring with the appointment of Nigerian business leader Tony Elumelu as its incoming Chairman and Engr. Effiong Okon as the company’s new Chief Executive Officer, marking a significant shift in the firm’s corporate governance and growth strategy.
The appointments were disclosed in a notice filed with the Nigerian Exchange Limited (NGX) on Tuesday and signed by the Company Secretary, Edith Onwuchekwa.
According to the announcement, Elumelu will formally succeed Udoma Udo Udoma as Chairman effective January 2027. Engr. Effiong Okon, on the other hand, will assume office as Chief Executive Officer from August 1, 2026.
The company said the leadership transition is part of its long-term strategy to strengthen operational performance, deepen corporate governance, and position Seplat Energy for its next phase of expansion in Nigeria’s competitive oil and gas industry.
Elumelu, who is the Founder and Chairman of Heirs Holdings, also serves as Chairman of United Bank for Africa (UBA) Group and Transcorp Group. Over the years, he has played a central role in shaping private sector investment and corporate development across Africa.
Seplat Energy noted that his appointment reflects confidence in his experience in institution-building, strategic investment, and long-term value creation. The company added that he is widely associated with the Africapitalism philosophy, which promotes private sector-led development across key economic sectors on the continent.
In its statement, Seplat described the incoming Chairman as bringing extensive experience in corporate governance and strategic leadership, which it expects will support its growth ambitions and sustainability agenda.
Meanwhile, Engr. Effiong Okon, the incoming Chief Executive Officer, brings more than 35 years of experience in the global energy industry. He joined Seplat’s Board in 2018 as Operations Director and has since served in various leadership roles, including New Energy Director.
Until his appointment as CEO, Okon served as Managing Director of the ANOH Gas Processing Company (AGPC), where he was instrumental in advancing the ANOH gas project to first gas in January 2026.
The company said his operational expertise and leadership track record position him to guide Seplat through its next phase of expansion, particularly as it continues to develop gas infrastructure and strengthen its position in Nigeria’s energy sector.
Seplat Energy said the leadership changes reflect its commitment to building a resilient and globally competitive energy company capable of delivering long-term value to shareholders and stakeholders.
The transition is expected to take full effect in 2026 and 2027, respectively, as the company continues to execute its strategic growth plans in the upstream and gas development segments of the industry.
