Seplat Energy names Effiong Okon as CEO, Tony Elumelu as next chairman in sweeping leadership shakeup
Seplat Energy names Effiong Okon as CEO, Tony Elumelu as next chairman in sweeping leadership shakeup
Seplat Energy Plc has announced a major board and executive shakeup, appointing Engr. Effiong Okon as chief executive officer from August 1, 2026 and naming billionaire investor Tony Elumelu as chairman from January 1, 2027, as outgoing CEO Roger Brown and Chairman Senator Udoma Udo Udoma retire.
The Lagos and London-listed company disclosed the changes on Monday, June 9, 2026, saying the succession plan will support growth while emphasizing continuity in strategy and governance as it executes its 2030 plan.
Roger Brown will step down as CEO and board director on July 31, 2026, ending a 13-year run that began when he joined as chief financial officer in 2013. He led Seplat through its dual listing in 2014 and took over as CEO in August 2020, overseeing the acquisitions of Eland Oil and Gas in 2019 and the transformational purchase of Mobil Producing Nigeria Unlimited in 2024.
Brown said it had been “the greatest pleasure” to lead Seplat’s growth, citing financial resilience, balanced capital allocation, strong corporate governance and shareholder reward. He added that the company is well placed to support Nigeria in its growth targets and thanked the board, management and staff for their support.
Effiong Okon will assume the CEO role on August 1, 2026. He joined Seplat in 2018 as operations director, served four years on the board, then became new energy director in July 2022 before being appointed managing director of ANOH Gas Processing Company in 2024, where he led execution to first gas in January 2026.
Okon brings over 35 years of global industry experience, including 26 years at Royal Dutch Shell with roles across Africa, the US, Europe and the Middle East. At Shell, he was vice president of cost leadership and continuous improvement in the Netherlands, general manager of deepwater production in Nigeria, and deputy vice president technical for the North Field in Qatar. He is an alumnus of the University of Benin, IMD Business School and Harvard Business School, and a fellow of the Nigeria Society of Engineers and the Energy Institute UK.
Okon said his immediate focus will be executing the 2030 Roadmap and developing a long-term plan to deliver on the potential in Seplat’s portfolio.
Chairman Senator Udoma Udo Udoma will retire on December 31, 2026. He joined the board in December 2023 and became independent chairman in April 2024, overseeing the integration of MPNU and the rollout of the 2030 strategic plan. Udoma thanked Brown for his “exceptional contribution” and said the CEO’s legacy was cemented in the MPNU acquisition and Roadmap 2030. He welcomed Okon, citing his extensive operational experience to support growth aspirations.
Tony O. Elumelu, CFR, will succeed Udoma as chairman effective January 1, 2027. Elumelu joined Seplat’s board in January 2026 and is founder and chairman of Heirs Holdings, which holds a 20.07% stake in Seplat. Heirs Holdings has interests in energy, power, banking, insurance, technology, real estate, hospitality and healthcare.
Elumelu said he was honored to lead the board through Seplat’s next phase of growth and that he firmly believes in the critical role indigenous resources play in Africa’s economic transformation. He added that Seplat’s culture of execution and governance aligns with his values and congratulated Okon on his appointment, saying Okon’s experience gives him confidence in the company’s next chapter.
Seplat described itself as Nigeria’s leading indigenous energy company, listed on the NGX and LSE, with a portfolio of 11 PMLs, 17 PPLs and 5 OMLs in the Niger Delta. It operates three export terminals and three onshore gas processing plants, including the 300 MMscfd ANOH plant in a joint venture with NGIC.
The board said the succession plan will support Seplat’s strategic vision as it accelerates growth projects and delivers on its 2030 plan.
