After Acquiring Majority Shares, Tony Elumelu Joins Seplat Energies Board
- Tony Elumelu appointed non-executive director at Seplat Energy, effective January 22, 2026
- Elumelu's firm acquired 20.07% equity stake in Seplat, prompting board changes
- Seplat expects Elumelu's leadership to enhance growth and governance in the energy sector
Seplat Energy Plc has appointed billionaire investor and energy entrepreneur Tony Elumelu as a non-executive director on its board, following the acquisition of a significant equity stake in the company by his business interests.
The appointment takes effect from January 22, 2026, according to a corporate filing submitted on Thursday and signed by Seplat’s company secretary, Edith Onwuchekwa.
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The development marks a major shift in the ownership and governance structure of one of Nigeria’s leading indigenous energy companies.
Acquisition triggers board changes
Elumelu’s appointment follows the completion of a deal in which Heirs Holdings Limited and Heirs Energies Limited acquired a combined 20.07 percent equity stake in Seplat Energy.
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The shares were previously held by Etablissements Maurel et Prom SA, a French oil and gas firm.
As part of the transaction, Olivier Cleret De Langavant, who joined Seplat’s board in January 2020 as M&P’s nominee, resigned his position.
Seplat said his exit was directly linked to the sale of M&P’s shareholding in the company.
The board praised Langavant for his contributions, noting that his technical expertise and strategic insights played a key role in supporting Seplat’s growth and operational progress during his six-year tenure.
Elumelu brings strong energy and investment pedigree
Announcing the appointment, Seplat described Elumelu as a globally respected African investor, philanthropist, and advocate for the continent’s economic transformation.
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 Heirs Energies, an indigenous oil and gas company with a growing footprint in Nigeria’s upstream sector.
Beyond energy, Elumelu serves as chairman of United Bank for Africa Group, Transcorp Group, Transcorp Power, and Transcorp Hotels Plc, one of Nigeria’s leading hospitality brands.
In 2010, he founded The Tony Elumelu Foundation, which has since become one of Africa’s most prominent philanthropic institutions, supporting entrepreneurship across all 54 African countries.
Global Recognition and Influence
Elumelu’s influence extends well beyond Nigeria’s borders. He was named one of TIME Magazine’s 100 Most Influential People in the World in 2020 and was awarded the Commander of the Order of the Federal Republic in 2022.
He also serves on several international advisory bodies, including UNICEF’s Generation Unlimited Global Leadership Council and the International Monetary Fund’s Advisory Council on Entrepreneurship and Growth.
Board confident of strategic impact
Seplat Energy expressed confidence that Elumelu’s experience and leadership will strengthen the company’s strategic direction and long-term growth ambitions.
Welcoming him to the board, Seplat chairman Udoma Udo Udoma said the company looks forward to leveraging Elumelu’s deep expertise in business development, governance, and sustainable value creation.
Source: Instagram
Udoma also thanked Langavant for his service, describing his contributions as instrumental in advancing Seplat’s strategic initiatives and reinforcing its position in Nigeria’s energy sector.
With Elumelu’s entry into the boardroom, industry watchers see the move as a significant boost to Seplat’s influence, governance depth, and long-term growth prospects.
Seplat to bring back 400 idle wells
Legit.ng earlier reported that following the completion of its $1.28 billion acquisition of ExxonMobil's onshore oil and gas assets in Nigeria, the continent's largest oil-producing nation, Seplat Energy Plc is starting a significant project to revive hundreds of dormant oil wells in Nigeria.
By reactivating dormant oil wells and increasing production at these sites, Seplat hopes to revitalize the country's oil industry.
With the purchase of ExxonMobil's holdings, Seplat intends to reactivate hundreds of dormant oil wells, of which only approximately 200 are currently currently producing.
Source: Legit.ng
