Tony Elumelu
• Tony Elumelu is the Founder and Chairman of Heirs Holdings.
The Board of Directors of Seplat Energy, today, announced that Tony Elumelu has been elected as the next Chairman of the company.
He will succeed the current Chairman, Senator Udoma Udo Udoma, effective January 2027, ushering in a new chapter of leadership as the company continues its growth and transformation journey.
The board has also appointed Engr. Effiong Okon as Chief Executive Officer commencing 1 August 2026. The board changes were disclosed in a notice filed on the Nigerian Exchange Limited (NGX) and signed by the company secretary, Edith Onwuchekwa, on Tuesday, in line with the exchange’s listing requirements.
Mr Elumelu is the Founder and Chairman of Heirs Holdings, a leading pan-African investment group, with interests in strategic sectors of the African economy, including energy, power, banking, insurance & financial services, technology, real estate, hospitality and healthcare.
He is also the pioneer proponent and founder of Africapitalism, the economic philosophy that champions the unlocking of Africa’s potential through long-term investments in key sectors that improve lives and transform the continent Mr. Elumelu currently serves as Chairman of Nigeria’s largest quoted conglomerate, Transcorp Group whose subsidiaries include Transcorp Power, one of the leading producers and suppliers of electricity in West Africa, and Transcorp Hotels Plc, Nigeria’s foremost hospitality brand; and Chairman of pan-African financial services group, the United Bank for Africa (UBA) Group.
The new Chief Executive Officer, Engr. Effiong Okon is an accomplished leader with over 35 years of global industry expertise and brings a formidable track record of operational excellence and strategic execution. He is deeply familiar with the organisation, having been with the Company since 2018, initially serving on Seplat’s Board as Operations Director for four years, then as New Energy Director, and most recently as Managing Director of ANOH Gas Processing Company (‘AGPC’), where he successfully drove the project’s execution to achieve first gas in January 2026.
As Seplat continues in its next phase of growth, Elumelu’s wealth of experience in corporate governance, institution-building and long-term value creation will bring invaluable guidance as the company strengthens its position as a resilient, globally competitive energy institution.
