BREAKING: Elumelu to Chair Seplat, Okon CEO

Seplat Energy has unveiled a new leadership structure that will see businessman Tony Elumelu become Chairman of the company while industry veteran Effiong Okon assumes the role of Chief Executive Officer.

The appointments were announced in a regulatory filing submitted to the Nigerian Exchange Limited and signed by Company Secretary Edith Onwuchekwa.

Under the transition plan, Okon will take over as Chief Executive Officer on August 1, 2026, while Elumelu is scheduled to become Chairman in January 2027, replacing Senator Udoma Udo Udoma.

The development follows Heirs Energies’ acquisition of a 20.07 per cent equity stake in Seplat Energy through a $500 million transaction that established the company as the largest shareholder in the indigenous energy firm.

Seplat said the leadership changes are part of efforts to position the company for sustained growth and strengthen its presence in the energy sector.

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Elumelu heads Heirs Holdings, an investment group with interests across energy, power, banking, insurance, technology, healthcare, real estate and hospitality. He also chairs Transcorp Group and United Bank for Africa Group.

The company said his background in business leadership and corporate governance would contribute to its long-term growth objectives and strategic direction.

Okon brings more than 35 years of experience in the oil and gas industry. Since joining Seplat in 2018, he has held several executive positions, including Operations Director and New Energy Director.

Before his appointment, he served as Managing Director of ANOH Gas Processing Company, where he oversaw the execution of the ANOH gas project, which commenced gas production in January 2026.

Seplat said his operational experience and familiarity with the company’s activities make him well-positioned to lead the business through its next phase of development and expansion.