Seplat Energy Plc has announced a major leadership transition that will see Chief Executive Officer Roger Brown retire after 13 years with the company, while veteran oil executive Effiong Okon takes over as CEO and billionaire investor Tony Elumelu becomes chairman.
The Nigerian energy company said Tuesday that Brown will step down as chief executive and board director on July 31, ending a tenure that oversaw some of the company’s most significant growth milestones, including its 2014 dual listing in Lagos and London, the acquisition of Eland Oil & Gas in 2019, and the transformational purchase of Mobil Producing Nigeria Unlimited (MPNU) in 2024.
Okon, currently managing director of the ANOH Gas Processing Company, will assume the role of chief executive and executive director from August 1.
The announcement marks the most significant management shake-up at Seplat since the completion of its acquisition of MPNU, a deal that substantially expanded the company’s production base and strengthened its position among Africa’s largest independent energy companies.
Brown said he was leaving behind a company that had become synonymous with “financial resilience, balanced capital allocation, strong corporate governance and shareholder reward.”
“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,” Brown said.
Seplat’s board credited Brown with helping transform the company from a regional upstream operator into a leading indigenous energy company with a growing gas business and a portfolio of strategic oil and gas assets.
Okon brings more than three decades of industry experience to the role, having spent over 26 years at Shell before joining Seplat in 2018 as operations director. He later served as new energy director and most recently led the ANOH Gas Processing Company, where he oversaw project delivery and first gas production in January 2026.
His appointment comes as Seplat seeks to execute its “Roadmap 2030” growth strategy, which includes expanding gas production, strengthening domestic energy supply and advancing energy transition initiatives.
“I am delighted to be taking on this appointment at an important juncture,” Okon said. “My immediate focus will be on ensuring the Company executes the 2030 Roadmap.”
The company also unveiled plans for a boardroom transition.
Chairman Udoma Udo Udoma, a former Nigerian finance minister who became independent chairman in 2024, will retire on December 31.
Seplat’s board has elected Tony Elumelu, founder of Heirs Holdings and one of Africa’s most influential investors, to succeed him from January 1, 2027.
Elumelu joined Seplat’s board earlier this year. His investment group owns a 20.07% stake in the company.
“I am honoured to succeed Senator Udoma as Chairman and to lead the Board through Seplat Energy’s next phase of growth,” Elumelu said.
The succession plan comes as Seplat seeks to consolidate gains from the MPNU acquisition and accelerate growth projects across its oil and gas portfolio. The company operates assets across the Niger Delta and has become one of Nigeria’s largest suppliers of gas to the domestic power market through its processing facilities at Oben, Sapele and ANOH.
The board said the changes would provide continuity in governance and strategy as Seplat pursues its long-term growth ambitions and executes its 2030 plan.
Discover more from Pluboard
Subscribe to get the latest posts sent to your email.