-As Effiong Okon Takes CEO Role
LAGOS, Nigeria – Seplat Energy, one of Africa’s leading indigenous energy companies, announced a major leadership overhaul on Tuesday, appointing prominent Nigerian businessman and investor Tony Elumelu as its incoming Chairman and naming Engr. Effiong Okon as the company’s new Chief Executive Officer.
The board of directors disclosed the changes in a notice filed with the Nigerian Exchange Limited (NGX) and signed by Company Secretary Edith Onwuchekwa. According to the filing, Elumelu will assume the role of Chairman in January 2027, succeeding Senator Udoma Udo Udoma. Okon, meanwhile, will take over as CEO effective August 1, 2026.
Elumelu, the founder and chairman of Heirs Holdings, is widely regarded as one of Africa’s most influential business leaders. His investment portfolio spans energy, banking, insurance, technology, hospitality, healthcare, and real estate. He is also the architect of Africapitalism, an economic philosophy advocating long-term private sector investment as a catalyst for Africa’s development.
In addition to his role at Heirs Holdings, Elumelu currently chairs Transcorp Group, Nigeria’s largest publicly listed conglomerate, and the United Bank for Africa (UBA) Group, a leading pan-African financial institution.
Incoming CEO Engr. Effiong Okon brings more than three decades of industry experience to the position. A seasoned energy executive, Okon has been with Seplat Energy since 2018, holding senior leadership roles including Operations Director, New Energy Director, and most recently Managing Director of the ANOH Gas Processing Company (AGPC).
Under Okon’s leadership, AGPC achieved a major milestone in January 2026 with the delivery of its first gas production—a project widely considered critical to Nigeria’s gas development agenda.
Seplat Energy said the appointments underscore its commitment to strong corporate governance, operational excellence, and sustainable growth. The company expressed confidence that Elumelu’s expertise in institution-building and long-term value creation, combined with Okon’s extensive operational background, will drive the company’s next phase of expansion and transformation.
Industry observers see the leadership transition as a strategic move designed to position Seplat Energy to seize emerging opportunities in Africa’s rapidly evolving energy landscape while sharpening its competitive edge on the global stage.
