As Elumelu Named Chairman, Okon Becomes CEO
Reported by: Prince Saah
Monrovia, Liberia – Seplat Energy has appointed seasoned oil and gas executive Effiong Okon as Chief Executive Officer and Tony Elumelu, a well-known businessman and investor, as its new Chairman in a major leadership change that could transform one of Africa’s fastest-growing energy businesses. In an effort to maintain its position as a major African energy powerhouse in the face of a rapidly changing global energy landscape, Seplat Energy announced the selections as part of a significant succession plan.
According to a notice filed with the Nigerian Exchange Limited, Elumelu will assume the chairmanship in January 2027, succeeding Udoma Udo Udoma, while Okon will take over as CEO on August 1, 2026. Nonetheless, the appointment puts one of Africa’s most powerful business leaders in charge of Seplat. Elumelu, the chairman of United Bank for Africa and the founder and chairman of Heirs Holdings, is well known for supporting “Africapitalism”, a theory that promotes long-term private sector investment as a catalyst for economic change throughout the continent.
As the firm works to increase its presence in oil, gas, and developing energy markets while managing growing demands for energy security and sustainability, he was elevated to Seplat’s top board post. Given Elumelu’s extensive background in creating and overseeing significant African institutions, industry observers see the appointment as a strategic move that might enhance Seplat’s corporate governance, investment outlook, and regional impact.
Okon, the new CEO, brings over thirty years of experience in the worldwide sector to the position. Since joining Seplat in 2018, he has held a number of important leadership roles, including operations director, new energy director, and most recently managing director of the ANOH Gas Processing Company. He was also honoured for leading the ANOH Gas Project to its first gas production in January 2026, which is considered to be one of Nigeria’s most significant recent successes in the gas industry.
As the energy company speeds up its next stage of expansion, Seplat said the two appointments mark a new era for the business by fusing Okon’s operational and technical competence with Elumelu’s knowledge of corporate leadership and value generation. At a time when the continent’s energy industry is drawing more attention and investment from abroad, the leadership change highlights Seplat’s goal to improve its reputation as a robust and internationally competitive African energy organization.
