UBA’s Tony Elumelu takes over Seplat Energy as chairman

The chairman of United Bank of Africa has emerged as the chairman of Seplat Energy. 

This will see the billionaire investor assume the position of chairman from January 1, 2027. Whuba’s Tony Elumelu takes over Seplat Energy as chairman.

The chairman of the United Bank of Africa has emerged as the chairman of Seplat Energy.

This will see the billionaire investor assume the position of chairman from January 1, 2027, while veteran oil and gas executive Effiong Okon will become chief executive officer effective August 1, 2026.

The company disclosed the changes on Tuesday, describing them as part of a structured succession plan aimed at ensuring continuity in governance and sustained execution of its long-term growth strategy under its Roadmap 2030 agenda.

According to the announcement, current Chief Executive Officer Roger Brown will retire on July 31, 2026, bringing to a close a 13-year tenure with the company, including six years as CEO. His departure marks what Seplat described as a transformative period during which the firm expanded its operations, completed major acquisitions, and strengthened its position as one of Africa’s leading independent energy companies.

His appointment is expected to bolster Seplat’s ambitions in expanding its upstream and gas operations as well as advancing its role in Nigeria’s energy transition agenda.

In his remarks, Elumelu said he was honoured to succeed Udoma and lead the company into its next phase of growth, adding that Seplat’s governance structure and execution culture align with his values.

He also expressed commitment to delivering increased value to shareholders and stakeholders.

Effiong Okon’s appointment as Chief Executive Officer was described by the company as a move to ensure operational continuity and strategic stability. Okon brings more than 35 years of experience in the energy.

The development comes after Elumelu acquired 20.07 percent of the Seplat in a deal worth $496 million.