Seplat Energy Plc has unveiled a leadership transition that will place billionaire investor Tony Elumelu at the helm of its board and veteran oil executive Effiong Okon in the chief executive role, as Nigeria’s largest indigenous energy producer positions itself for its next phase of growth following a series of transformative acquisitions and an aggressive push into natural gas.
The succession plan, announced through a regulatory filing, comes as Seplat executes its Roadmap 2030 strategy aimed at expanding production, deepening its gas business and strengthening its position as one of Africa’s leading independent energy companies.
The changes also reflect the growing influence of Elumelu, whose Heirs Energies recently emerged as Seplat’s single largest shareholder through a $500 million investment.
The energy giant announced that veteran industry executive Effiong Okon will step into the role of Chief Executive Officer on August 1, 2026, while Elumelu will assume chairmanship of the board on January 1, 2027.
Seplat’s share price was unchanged at the close of trading on Tuesday, June 9, going for N11,363 per share according to data from Bloomberg.
