The chairman of United Bank for Africa (UBA), Tony Elumelu, has been elected as the next chairman of Seplat Energy and will officially assume the role on January 1, 2027, following the planned retirement of the current chairman, Udoma Udo Udoma.
Seplat announced on Tuesday that Udoma, who became chairman in April 2024, has informed the board of his decision to step down on December 31, 2026.
The company said the board unanimously selected Elumelu as his successor, citing his decades-long record in business leadership, corporate governance and value creation across both listed and private enterprises. It added that his appointment would help drive the company’s long-term growth ambitions and support the implementation of its 2030 strategic roadmap.
Reacting to his appointment, Elumelu said he was privileged to succeed Udoma and lead the board into a new phase of expansion.
“I am honoured to succeed Senator Udoma as chairman in January 2027 and to lead the board through Seplat Energy’s next phase of growth,” he said.
“I firmly believe in the critical role indigenous resources play in the economic transformation of Nigeria and Africa.”
The company also announced a leadership transition at the executive level, with Roger Brown set to retire as chief executive officer and board director on July 31, 2026.
Brown, who joined Seplat as chief financial officer in 2013 before becoming CEO in 2020, is credited with helping to steer the company through major milestones, including the acquisitions of Eland Oil and Gas in 2019 and Mobil Producing Nigeria Unlimited (MPNU) in 2024.
To succeed him, Seplat has appointed Effiong Okon as chief executive officer and executive director, effective August 1, 2026.
The company described Okon as an experienced oil and gas executive with more than 35 years in the industry. Since joining Seplat in 2018, he has held several strategic positions, including serving as managing director of the ANOH Gas Processing Company (AGPC), where he oversaw the project through to first gas production in January 2026.
Speaking on his appointment, Okon pledged to focus on delivering the company’s long-term growth plans.
“I am delighted to be taking on this appointment at an important juncture,” he said.
“My immediate focus will be on ensuring the company executes the 2030 roadmap, alongside development of the long-term plan to ensure we deliver on the immense potential inherent in our portfolio.”
Brown expressed pride in the company’s achievements during his tenure, saying it had been a privilege to contribute to Seplat’s growth journey.
“It has been the greatest pleasure to be part of Seplat Energy’s growth since joining in 2013 as CFO and having led the company as CEO since August 2020,” he said.
Udoma commended Brown’s contributions, noting that the company recorded significant growth and strong shareholder returns under his leadership.
“Roger has been ever present in Seplat Energy’s journey and under his leadership, Seplat Energy has materially outperformed the sector and delivered exceptional returns to shareholders,” he said.
The succession changes come months after Heirs Energies, a company owned by Elumelu, acquired a 20 per cent stake in Seplat from Maurel & Prom S.A. in a $500 million transaction completed on December 31, 2025. Elumelu subsequently joined Seplat’s board as a non-executive director in January 2026, with shareholders formally ratifying his appointment in May.