Seplat Energy Plc has announced the appointment of renowned African investor and philanthropist, Mr. Tony O. Elumelu, as a Non-Executive Director. The move follows the exit of Mr. Olivier Cleret De Langavant, who resigned from the Board on January 22, 2026, after the divestment of Etablissements Maurel et Prom SA (M&P)’s 20.07% stake in Seplat.
This strategic transition comes after Seplat formally received notification that M&P had sold 120.4 million ordinary shares to Heirs Holdings Limited and Heirs Energies Limited. The shares were acquired as follows: 86.6 million by Heirs Energies and 33.8 million by Heirs Holdings. As a result, M&P no longer holds any shares in the company, while the acquiring entities now jointly own over 20% of Seplat’s issued share capital.
Mr. Elumelu, the newly appointed director, is the Chairman of Heirs Holdings, United Bank for Africa (UBA) Group, Heirs Energies, and Transcorp Group. He is also the founder of the Tony Elumelu Foundation (TEF), which supports entrepreneurs across all 54 African countries. Recognized by TIME Magazine as one of the 100 Most Influential People in the World in 2020 and conferred with the national honour of Commander of the Order of the Federal Republic (CFR) in 2022, Mr. Elumelu brings a wealth of experience and global leadership to the Seplat board.
Seplat Energy emphasized the strategic nature of the appointment. According to the company, Mr. Elumelu’s extensive leadership in sectors such as energy, finance, and entrepreneurship aligns seamlessly with Seplat’s long-term vision of sustainable growth. The Board expressed full confidence in his ability to support the company’s objectives.
Chairman of Seplat Energy, Mr. Udoma Udo Udoma, expressed appreciation for Mr. Langavant’s six years of service, stating that his technical expertise and commitment significantly advanced Seplat’s strategic goals. Welcoming Mr. Elumelu, Udoma added, “We look forward to leveraging his wealth of experience and leadership as we continue to pursue sustainable growth and value creation for all stakeholders.”
This board reshuffle marks a significant moment for Seplat as it strengthens its leadership team amid evolving energy demands and Nigeria’s national goals for economic transformation. The company ended 2025 with a 1.94% share price gain, outperforming the Oil and Gas Sector Index which dipped by 1.54%. In the first trading week of 2026, Seplat’s shares surged to a new 52-week high of N6,171, marking a 6.2% year-to-date gain.
With Mr. Elumelu’s appointment, Seplat Energy appears well-positioned to accelerate its innovation, sustainability, and shareholder value agenda in Nigeria’s energy sector.
