Tony Elumelu, the chairman of United Bank for Africa (UBA), will become chairman of Seplat Energy from January 1, 2027, after Udoma Udo Udoma announced plans to retire at the end of the year.
Announcing the boardroom changes on Tuesday, Seplat said Udoma, who became chairman in April 2024, informed the board of his intention to retire on December 31, 2026.
“The Board has accordingly elected Mr. Tony O. Elumelu, CFR, as the next Chairman of Seplat Energy, effective 1 January 2027,” the energy company said.
Seplat said Elumelu has a multi-decade track record of value creation in listed and non-listed entities, adding that he is also a distinguished philanthropist, globally recognised as one of the leading voices on Africa’s transformation and governance agenda.
“The Board believes this succession plan will support the Company’s strategic vision as it executes delivery of its 2030 plan and strives to accelerate the growth projects in its portfolio,” the company added.
Speaking on his election as chairman, Elumelu said he will lead Seplat through the next phase of growth.
“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 announced that Roger Brown will retire as chief executive officer (CEO) and board director on July 31, with Effiong Okon taking over as CEO and executive director on August 1.
Brown joined Seplat as chief financial officer (CFO) in 2013 and became CEO in 2020.
“During Mr. Brown’s 13-year tenure, initially as the Company’s CFO through its landmark dual listing in 2014 and for the past 6 years as CEO, Seplat Energy has grown significantly through a combination of financial discipline, asset development and successful acquisitions, including Eland Oil and Gas in 2019 and the transformational acquisition of MPNU in 2024,” the document reads.
Seplat described Okon as a seasoned industry executive with more than 35 years of experience and a strong understanding of the company’s operations, having served in several leadership positions since joining the firm in 2018.
The energy company disclosed that Okon was managing director of ANOH Gas Processing Company (AGPC), where he led the project to first gas in January 2026.
Okon said his immediate priority would be executing Seplat’s growth strategy.
“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 also said he was proud of the company’s growth over the past decade.
“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 added.
Udoma said Brown leaves behind a strong legacy, citing the MPNU acquisition and the company’s Roadmap 2030 strategy.
“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.
Seplat said the succession plan is intended to support the execution of its 2030 strategy and accelerate growth projects across its portfolio.
On December 31, 2025, Heirs Energies, a company owned by Elumelu, acquired 20 percent stake of Maurel & Prom S.A in Seplat for $500 million.
Four weeks later, Elumelu joined Seplat’s board as a non-executive director (NED), an appointment that was confirmed by the shareholders on May 21.