Seplat Energy Plc has announced the election of Tony O. Elumelu, CFR, as its incoming Chairman, with the appointment set to take effect from 1 January 2027. The move positions the billionaire investor and philanthropist to lead the dual-listed energy company into its next phase of strategic expansion.
Elumelu, Founder and Chairman of Heirs Holdings, joined the Seplat Board in January 2026 and holds a significant indirect influence through Heirs Holdings’ 20.07% stake in the company. His appointment signals a continued focus on governance strength and long-term value creation for the indigenous energy leader, which is listed on both the Nigerian Exchange Limited (NGX: SEPLAT) and the London Stock Exchange (LSE: SEPL).
The transition will follow the retirement of current Independent Chairman Senator Udoma Udo Udoma, CON, who is set to step down on 31 December 2026 after assuming the role in April 2024. As part of the broader leadership restructuring, Effiong Okon has also been appointed Chief Executive Officer and Executive Director.
In his statement, Elumelu described the appointment as an opportunity to guide Seplat through its next growth chapter, emphasizing the role of indigenous resources in driving economic transformation across Nigeria and Africa, while reaffirming alignment with the company’s governance and execution culture.
The leadership transition marks a significant moment for Seplat Energy as it strengthens its executive structure ahead of its next strategic phase.