Seplat Energy Plc has appointed Mr. Tony O. Elumelu as a Non-Executive Director following the resignation of Mr. Olivier Cleret De Langavant, who exited the Board after the divestment of Etablissements Maurel et Prom SA’s stake in the company.
This is contained in a statement signed by Company Secretary, Mrs. Edith Onwuchekwa.
The appointment takes effect from 22 January 2026, the same date Mr. Langavant’s resignation became effective.
What the statement is saying
Announcing Mr. Elumelu’s appointment, the Board described him as a distinguished African investor and philanthropist, widely recognised for his leadership on Africa’s economic transformation agenda.
Mr. Elumelu is the Founder and Chairman of Heirs Holdings, a diversified investment group with interests across energy, power, banking, insurance, technology, real estate, hospitality and healthcare.
He also serves as Chairman of United Bank for Africa (UBA) Group, Heirs Energies, and Transcorp Group, whose subsidiaries include Transcorp Power and Transcorp Hotels Plc, Nigeria’s leading hospitality brand.
In 2010, Mr. Elumelu established The Tony Elumelu Foundation (TEF), a leading African philanthropy dedicated to empowering entrepreneurs across all 54 African countries.
His global influence has earned him several recognitions, including being named among TIME Magazine’s 100 Most Influential People in the World (2020) and receiving the Commander of the Order of the Federal Republic (CFR) in 2022.
He also serves on global boards, including UNICEF’s Generation Unlimited Global Leadership Council and the International Monetary Fund’s Advisory Council on Entrepreneurship and Growth.
Board changes follow M&P share sale
According to the statement, the Board’s decision follows Seplat Energy’s earlier announcement on the sale of Etablissements Maurel et Prom SA (M&P)’s 20.07% shareholding in the company to a combination of Heirs Holdings Limited and Heirs Energies Limited.
Mr. Langavant joined Seplat Energy’s Board on 28 January 2020 as a nominee of M&P and stepped down in line with the change in ownership structure.
The company described Mr. Langavant’s tenure as impactful, noting that he provided strategic technical counsel and insights that supported Seplat Energy’s growth.
“Mr. Langavant has rendered exceptional service throughout his tenure, providing strategic technical counsel and invaluable insights that have materially supported the Company’s progress,” the statement said.
Board expresses confidence in Elumelu’s appointment
“We are confident that Mr. Elumelu’s extensive experience and visionary leadership will significantly advance Seplat Energy’s strategic objectives and reinforce the Company’s commitment to sustainable growth and long-term success,” the statement said.
Chairman of Seplat Energy, Mr. Udoma Udo Udoma, also paid tribute to Mr. Langavant while welcoming Mr. Elumelu to the Board.
“On behalf of the Board and Management, I wish to express our profound appreciation to Mr. Langavant for his outstanding contribution to Seplat Energy over the past six years. His expertise and commitment have been instrumental in driving our strategic initiatives,” Udoma said.
“We warmly welcome Mr. Elumelu to the Board and look forward to leveraging his wealth of experience and leadership as we continue to pursue sustainable growth and value creation for all stakeholders.”
What you should know
The company closed 2025 with a 1.94% share price gain, a result that appeared muted in a year when the Nigerian Exchange All-Share Index advanced by more than 50%.
While the broader market surged, the Oil and Gas Sector Index declined by 1.54%, allowing Seplat Energy to outperform its immediate peers in a challenging sector.
Within the first trading week of 2026, Seplat’s shares reached a new 52-week high of N6,171, delivering a 6.2% year-to-date gain and surpassing its full-year 2025 return in a matter of days.
