Tony Elumelu Joins Seplat Energy Board After $500M Stake

Tony Elumelu, the founder and chairman of Heir Energy and United Bank for Africa PLC, is expected to be formally elected as a non-executive director of Seplat Energy PLC during the company's 13th annual general meeting (AGM) scheduled for May 20, 2026. This follows Heir Energy's acquisition of a $500 million stake in Seplat, making it the single largest shareholder with a 20.07% stake in Nigeria's foremost indigenous oil and gas company.

The AGM will also address key resolutions, including the approval of the financial statements for the year ending December 31, 2025, the declaration of a final dividend, and the reappointment of PricewaterhouseCoopers as external auditors. Alongside Elumelu's election, shareholders will vote on the re-election of two independent non-executive directors, Senat Udoma Udo Udoma and Christoph J.

N. Okeke, and the appointment of Larrie Ettah as an additional independent non-executive director.

The meeting will be conducted virtually and streamed live on Seplat's YouTube channel.