Mkpoikana Udoma
Port Harcourt — Billionaire investor and Chairman of Heirs Holdings, Mr. Tony Elumelu, has confirmed that he will take over as Chairman of Seplat Energy Plc in January 2027, succeeding Senator Udoma Udo Udoma in a major leadership transition at one of Nigeria’s leading indigenous energy companies.
Elumelu, who announced the development in a post on X, described his appointment as an opportunity to guide Seplat through its next phase of growth while advancing the role of indigenous energy companies in driving economic transformation across Nigeria and Africa.
“I am honoured to succeed Senator Udoma as Chairman in January 2027 and to lead the Board through Seplat’s next phase of growth,” Elumelu stated.
The incoming chairman emphasized the strategic importance of indigenous participation in the energy sector, noting that local companies have a critical role to play in unlocking economic development and creating long-term value on the continent.
“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,” he said.
The transition comes at a pivotal time for Seplat as the company consolidates its position as a major player in Nigeria’s oil and gas industry following recent asset acquisitions and expansion initiatives aimed at increasing production and strengthening energy supply.
Elumelu paid tribute to the outgoing Chairman, Senator Udoma Udo Udoma, and Managing Director, Roger Brown, acknowledging their contributions to the growth and stability of the company.
“I thank Senator Udoma and Roger for their stewardship and look forward to delivering further value for shareholders,” he stated.
He also congratulated Mr. Okon on his appointment as Chief Executive Officer, expressing confidence in the new leadership team.
“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,” Elumelu added.
The leadership changes are expected to strengthen Seplat’s strategic direction as the company seeks to deepen its role in Nigeria’s energy transition agenda while maintaining growth in its upstream oil and gas operations.
Industry observers view Elumelu’s emergence as chairman as a significant development for the indigenous energy sector, given his track record in banking, investments and private sector-led economic development across Africa.
With Elumelu set to assume the chairmanship in 2027, attention is expected to focus on how Seplat leverages its expanding asset base, governance framework and indigenous ownership model to drive shareholder value and support Nigeria’s ambition of increasing energy production and attracting fresh investment into the sector.
