Tony Elumelu Emerges Seplat Energy Chairman as Leadership Transition Begins

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Seplat Energy Plc has announced a major leadership transition, with billionaire investor and philanthropist Tony O. Elumelu set to assume the role of Chairman in 2027, as part of a succession plan aimed at strengthening governance and driving the company’s next phase of growth.

In a statement released on Monday, Seplat Energy said the leadership changes are designed to ensure continuity while accelerating the execution of its long-term 2030 strategic roadmap.

The development also confirms the retirement of Chief Executive Officer Roger Brown, scheduled for July 31, 2026, bringing to a close what the company described as a transformational tenure marked by expansion, strategic acquisitions, and operational growth across Africa’s energy sector.

Under Brown’s leadership, the company recorded significant growth through landmark acquisitions, including Eland Oil and Gas in 2019 and Mobil Producing Nigeria Unlimited (MPNU) in 2024, positioning Seplat as one of Africa’s leading independent energy companies.


Elumelu, Founder of Heirs Holdings and Chairman of United Bank for Africa, holds a 20.07 per cent stake in Seplat through Heirs Holdings and brings decades of experience in investment and corporate leadership across energy, banking, insurance, technology, and infrastructure.

Commenting on his appointment, Elumelu expressed appreciation "I am honoured to succeed Senator Udoma as Chairman in January 2027 and to lead the Board through Seplat Energy Plc next phase of growth. I firmly believe in the critical role indigenous resources play in the economic transformation of Nigeria and Africa, and Seplat’s culture of execution and governance aligns strongly with my own values. I thank Senator Udoma and Roger for their stewardship and look forward to delivering further value for shareholders. I also congratulate Mr. Okon on his appointment as Chief Executive Officer. His deep industry experience gives me great confidence that Seplat is well positioned for its next chapter of growth.


Outgoing CEO Roger Brown described his tenure as a privilege, noting that Seplat has evolved into a benchmark for financial discipline, strong corporate governance, and shareholder value creation.

Chairman Udoma Udo Udoma also commended Brown’s leadership, describing him as instrumental to Seplat’s transformation into a leading African independent energy company

The Board said the succession plan reflects its commitment to stability, strategic continuity, and accelerated growth as the company positions itself for its next phase of expansion.

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