Mkpoikana Udom
Port Harcourt — Seplat Energy Plc has appointed billionaire investor, Tony Elumelu, as a Non-Executive Director, marking a significant boardroom shift following the divestment of French energy firm Etablissements Maurel et Prom SA, M&P, from the company.
The appointment, effective 22 January 2026, follows the resignation of Mr. Olivier Cleret De Langavant, who exited the Board after M&P sold its 20.07 per cent equity stake in Seplat to Heirs Holdings Limited and Heirs Energies Limited.
The development underscores a broader transition toward stronger indigenous ownership and capital influence in Nigeria’s upstream oil and gas sector.
Announcing the appointment in a statement signed by Company Secretary, Mrs. Edith Onwuchekwa, the Board described Elumelu as “a distinguished African investor and philanthropist, widely recognised for his leadership on Africa’s economic transformation agenda.”
Elumelu is the founder and chairman of Heirs Holdings, with investments spanning energy, power, banking, insurance, technology, hospitality and healthcare. He also chairs Heirs Energies, United Bank for Africa, UBA Group, and Transcorp Group, whose subsidiaries include Transcorp Power and Transcorp Hotels Plc.
The Board expressed confidence that his entry would strengthen Seplat’s long-term strategy.
“We are confident that Mr. Elumelu’s extensive experience and visionary leadership will significantly advance Seplat Energy’s strategic objectives and reinforce the Company’s commitment to sustainable growth and long-term success,” the statement said.
The Board changes come on the heels of Seplat’s earlier disclosure that M&P’s stake had been sold to entities affiliated with Elumelu, effectively reshaping the company’s ownership structure and signalling a deepening role for Nigerian capital in upstream asset ownership.
Mr. Langavant, who joined the Board in January 2020 as M&P’s nominee, stepped down in line with the change in shareholding.
Seplat described his tenure as impactful.
“Mr. Langavant has rendered exceptional service throughout his tenure, providing strategic technical counsel and invaluable insights that have materially supported the Company’s progress,” the company stated.
Chairman of Seplat Energy, Senator Udoma Udo Udoma, paid tribute to the outgoing director while welcoming Elumelu to the Board.
“On behalf of the Board and Management, I wish to express our profound appreciation to Mr. Langavant for his outstanding contribution to Seplat Energy over the past six years,” Udoma said.
“We warmly welcome Mr. Elumelu to the Board and look forward to leveraging his wealth of experience and leadership as we continue to pursue sustainable growth and value creation for all stakeholders.”
Industry observers see Elumelu’s appointment as reinforcing Seplat’s positioning as a leading indigenous energy company, at a time when Nigeria is actively encouraging local participation, capital retention and long-term investment in its oil and gas sector.
