Tony Elumelu Joins Seplat Energy as Non-Executive Director

Seplat Energy has announced the appointment of Nigerian entrepreneur and investor Tony Elumelu as a new non-executive director amid shifts in the company's ownership framework.

This development aligns with the recent resignation of Olivier de Langavant from the board, effective January 22. De Langavant had served on the board since January 2020 as a representative of Etablissements Maurel et Prom SA, which has recently divested its 20.07 percent share in Seplat Energy.

The changes were made public in a statement filed with the Nigerian Exchange Limited (NGX) and signed by the company secretary, Edith Onwuchekwa, ensuring compliance with the exchange's disclosure obligations.

In December 2025, Heirs Energies acquired a 20.07 percent stake in Seplat Energy Plc (120.4 million shares) that was previously owned by Maurel & Prom S.A., valued at roughly $500 million at GBP 3.05 per share. This acquisition was also reported to the Nigerian Exchange.

Tony Elumelu’s appointment is effective from January 22. He is the founder of Heirs Holdings and the chairman of United Bank for Africa, overseeing investments in various sectors including energy, finance, and hospitality across Africa. His firm, together with Heirs Energies, has been instrumental in acquiring the shares previously held by Maurel & Prom in Seplat.

Seplat’s chairman, Udoma Udoma, expressed optimism that Elumelu would enhance the company’s strategic leadership. He commended the contributions of Mr. de Langavant over the past six years, recognizing his expertise and commitment to the company’s growth strategies.

"On behalf of the Board and Management, I want to sincerely thank Mr. Langavant for his significant impact on Seplat Energy. We are excited to welcome Mr. Elumelu to our Board and anticipate his extensive experience will aid our continued pursuit of sustainable growth and value creation for our stakeholders," he commented.

Seplat Energy operates as a Nigerian independent oil and gas enterprise, listed on both the Nigerian and London stock exchanges. As of late 2025, it holds 2P reserves of 1.043 billion barrels of oil equivalent, with a production rate of approximately 135.6 thousand barrels of oil equivalent daily.

Heirs Energies manages OML 17 in the Niger Delta region, producing over 50,000 barrels of oil and 120 million cubic feet of gas each day, backed by reserves exceeding 1.5 billion barrels of oil and 2.5 trillion cubic feet of gas, representing a crucial supplier of gas for Nigeria's domestic electricity needs.