Seplat Energy appoints Tony Elumelu as non-executive director

Seplat Energy Plc, a leading independent energy company in Nigeria, has appointed renowned African investor and philanthropist Tony O. Elumelu, CFR, as a Non-Executive Director on its board, effective 22 January 2026.

The appointment comes on the heels of the recent sale of French oil firm Etablissements Maurel et Prom SA (M&P)’s entire 20.07% stake (approximately 120.4 million shares) in Seplat to a combination of Heirs Holdings Limited and Heirs Energies Limited, both entities controlled by Elumelu.

The transaction, valued at around $496-500 million, positions Heirs as Seplat’s largest shareholder bloc and reflects a strategic shift toward greater indigenous ownership in Nigeria’s upstream oil and gas sector.

In a corporate announcement filed on the Nigerian Exchange Limited (NGX) and London Stock Exchange, Seplat also confirmed the resignation of Mr. Olivier Cleret De Langavant as a Non-Executive Director, effective the same date. Langavant, who joined the board in January 2020 as M&P’s nominee, was commended for his exceptional service, strategic technical counsel, and invaluable insights that supported the company’s progress over the past six years.

ALSO READ: OLAYINKA MUBARAK LEADS BOI INVESTMENT & TRUST COMPANY

Udoma Udo Udoma, Chairman of Seplat Energy, expressed profound appreciation for Langavant’s contributions and welcomed Elumelu’s addition to the board. “On behalf of the Board and Management, I wish to express our profound appreciation to Mr. Langavant for his outstanding service over the past six years,” Udoma said. “His expertise and commitment have been instrumental in driving our strategic initiatives.”

Udoma highlighted Elumelu’s extensive experience and visionary leadership, noting that he is expected to significantly advance Seplat’s strategic objectives and reinforce its commitment to sustainable growth and long-term value creation for all stakeholders. “We are confident that Mr. Elumelu’s extensive investment experience and global influence will materially support the Company’s progress,” he added.

Elumelu is the Founder and Chairman of Heirs Holdings, a diversified investment group with interests spanning energy, power, banking, insurance, technology, real estate, hospitality, and healthcare. He also chairs United Bank for Africa (UBA), Heirs Energies, and Transcorp Group, and serves as Chairman of the Tony Elumelu Foundation (TEF), which has empowered thousands of African entrepreneurs.

Globally recognized as a leading voice on Africa’s transformation agenda, Elumelu has received accolades including TIME Magazine’s 100 Most Influential People in the World (2020) and the Commander of the Order of the Federal Republic (CFR) in Nigeria.