The Energy Time Podcast

Data-driven energy stories. Explainers, in-depth analysis, interviews and more.

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INFOGRAPHIC: A quick snapshot of Tony Elumelu's journey as a becomes Seplat Energy’s new Chairman in 2027

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BREAKING: SEPLAT ENERGY APPOINTS TONY ELUMELU AS CHAIRMAN

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INFOGRAPHIC: A quick snapshot of Tony Elumelu's journey as a becomes Seplat Energy’s new Chairman in 2027

[Tony O. Elumelu, CFR @TonyOElumelu]

I am honoured to succeed Senator Udoma as Chairman in January 2027 and to lead the Board through @SeplatEnergy ’s next phase of growth.

I firmly believe in the critical role indigenous resources play in the economic transformation of Nigeria and Africa, and Seplat’s culture of execution and governance aligns strongly with my own values.

I thank Senator Udoma and Roger for their stewardship and look forward to delivering further value for shareholders.

I also congratulate Mr. Okon on his appointment as Chief Executive Officer.
His deep industry experience gives me great confidence that @SeplatEnergy is well positioned for its next chapter of growth.

#TOEWay

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INFOGRAPHIC: A quick snapshot of Tony Elumelu's journey as a becomes Seplat Energy’s new Chairman in 2027.

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@htoowwn

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@gbemle

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MR. ROGER BROWN, CHIEF EXECUTIVE OFFICER, said: “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. I am immensely proud that we have built a Company that has now become synonymous with financial resilience, balanced capital allocation, strong corporate governance and shareholder reward. The Company is a strong and reliable partner to Government and is well placed to support Nigeria in its ambitious growth targets. I want to personally thank the Board, Management and the entire workforce for all the support they have given me over the years, and I look forward to watching the Company grow from strength to strength."

SENATOR UDOMA UDO UDOMA, CHAIRMAN OF SEPLAT ENERGY, commented: “On behalf of the entire Company, I wish to express our sincerest thanks to Roger for his exceptional contribution to the development of Seplat Energy into a leading African independent energy company. His legacy was cemented in the transformational acquisition of MPNU in 2024 and in the Roadmap 2030 strategy that we set out in 2025. Roger has been ever present in Seplat Energy's journey and under his leadership, Seplat Energy has materially outperformed the sector and delivering exceptional returns to shareholders; he leaves us well-placed to continue to deliver for all our stakeholders. I would also like to welcome Mr. Okon as our incoming CEO. He has extensive operational experience that will support our ambitious growth aspirations.”

MR. EFFIONG OKON, INCOMING CHIEF EXECUTIVE OFFICER, said: “I am delighted to be taking on this appointment at an important juncture. My immediate focus will be on ensuring the Company executes the 2030 Roadmap, alongside development of the long-term plan to ensure we deliver on the immense potential inherent in our portfolio.”

MR. TONY O. ELUMELU, INCOMING CHAIRMAN OF SEPLAT ENERGY, commented: “I am honoured to succeed Senator Udoma as Chairman in January 2027 and to lead the Board through Seplat Energy’s next phase of growth. I firmly believe in the critical role indigenous resources play in the economic transformation of Nigeria and Africa, and Seplat Energy’s culture of execution and governance aligns strongly with my own values. I thank Senator Udoma and Roger for their stewardship and look forward to delivering further value for shareholders. I also congratulate Mr. Okon on his appointment as Chief Executive Officer. His deep industry experience gives me great confidence that Seplat Energy is well positioned for its next chapter of growth.”

- ENDS –

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OFFICIAL STATEMENT:

9 June 2026: The Board of Seplat Energy PLC ('Seplat Energy' or the 'Company') today announces Board and executive management changes that will further support the Company's growth, whilst emphasising continuity in strategy and governance.

CHIEF EXECUTIVE OFFICER SUCCESSION:
After successfully leading the Company during a period of significant strategic expansion and transformation, including the acquisition of Mobil Producing Nigeria Unlimited ('MPNU'), Mr. Roger Brown will retire as Chief Executive Officer and as a Board Director on 31 July 2026. During Mr. Brown's 13-year tenure, initially as the Company's CFO through its landmark dual listing in 2014 and for the past 6 years as CEO, Seplat Energy has grown significantly through a combination of financial discipline, asset development and successful acquisitions, including Eland Oil and Gas in 2019 and the transformational acquisition of MPNU in 2024. Under Mr. Brown’s leadership, Seplat Energy has established itself as one of Africa's leading independent energy companies, with a strong pipeline of organic growth projects.

The Board is pleased to announce the appointment of Engr. Effiong Okon as Chief Executive Officer and Executive Director commencing 1 August 2026. An accomplished leader with over 35 years of global industry expertise, he brings a formidable track record of operational excellence and strategic execution. He is deeply familiar with the organization having been with the Company since 2018, initially serving on Seplat Energy’s Board as Operations Director for four years, then as our 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. Prior to joining Seplat Energy, Engr. Effiong cultivated a globally diverse operations portfolio during a distinguished career at Royal Dutch Shell spanning Africa, the USA, Europe, and the Middle East (full CV below).

CHAIRMAN SUCCESSION PLAN:
The Board also announces that the Chairman, Senator Udoma Udo Udoma, CON, has given notice of his intention to retire at the end of the year on 31 December 2026. Senator Udoma joined the Board in December 2023 and became Independent Chairman in April 2024. Since assuming the role, he has also worked closely with the Board and Management to oversee the successful integration of MPNU and setting out the 2030 strategic plan for the Company. Through his leadership and guidance, the Company has continued to thrive and play an increasingly important role in Nigeria’s energy sector. The Board has accordingly elected Mr. Tony O. Elumelu, CFR, as the next Chairman of Seplat Energy, effective 1 January 2027. Mr. Elumelu, who joined the Board in January 2026, is the Founder and Chairman of Heirs Holdings, which has a 20.07% shareholding in Seplat Energy. Heirs Holdings is a diversified investment company, with interests across strategic sectors of the African economy, including energy, power, banking, insurance, technology, real estate, hospitality, and healthcare. Mr. Elumelu has a multi-decade track record of value creation in listed and non-listed entities. Mr. Elumelu is also a distinguished philanthropist, globally recognised as one of the leading voices on Africa's transformation and governance agenda. The Board believes this succession plan will support the Company’s strategic vision as it executes delivery of its 2030 plan and strives to accelerate the growth projects in its portfolio.

Congratulations @TonyOElumelu

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BREAKING: SEPLAT ENERGY APPOINTS TONY ELUMELU AS CHAIRMAN

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BREAKING: SEPLAT ENERGY APPOINTS TONY ELUMELU AS CHAIRMAN

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Watch Uchenna Mkparu, Chief Investment Officer, United Capital Infrastructure Fund, talk about:

1. Patient Capital and,
2. Funding the Lagos/Fenchurch Akute Power Plant deal among other industry conversations.

Below 👇

https://t.co/a4sjF5vAo1

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https://t.co/a8krs88I8p

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5pm today with Uchenna Mkparu, Chief Investment Officer, United Capital Infrastructure Fund (UCIF).

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BREAKING: NISO DISASSOCIATES FROM "Nigeria National Grid (@NationalGridNg)"

SAYS IT'S AN UNAUTHORIZED SOCIAL MEDIA ACCOUNT

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UP NEPA!!! 🕺

Do you have light in your area now?

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BREAKING: NATIONAL GRID HAS PARTIALLY COLLAPSED

Recovery in progress

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@Ajani419252 We've got you
https://t.co/90bHhv8pAD

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BREAKING: NATIONAL GRID HAS PARTIALLY COLLAPSED

Recovery in progress

[The Energy Time Podcast @EnergyTimePod]

@Thisisrayrae I'll think about putting my hand on my chest and saying that 😂

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Just In:

Nigeria’s $500m power sector recovery programme (DISREP) is still alive despite the World Bank cancelling $717m in undisbursed PSRP financing.

The World Bank says it remains “fully committed” to improving Nigeria’s electricity distribution network through smart metering, grid upgrades and better Disco performance.

So far:
⚡ 265,000 meters installed
⚡ 400,000 smart meters delivered
⚡ Billing efficiency up to 82.12%
⚡ Collections improved to 75.56%
⚡ 292,000 Nigerians gained electricity access

The programme now runs till 2028, with over $403m yet to be disbursed.

#Nigeria #PowerSector #Electricity #WorldBank #DISREP #Energy #RenewableEnergy #DisCos #SmartMeters #Infrastructure

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Why did Nigeria lose $717 million in World Bank power sector funding?

Because the naira crash made electricity reforms harder to sustain.

Nigeria generates most of its power from dollar-priced gas while electricity tariffs remain subsidised.

The result?

A ₦1.9 trillion annual tariff shortfall.
Here’s how Nigeria’s currency crisis became an electricity crisis 👇🏽

#Nigeria #WorldBank #Electricity #Naira #PowerSector #EnergyCrisis

[Mag Cypher @cypherjags]

Here are the names and nationalities of the 25 defendants convicted international $215M Scam

A thread: