Renowned Nigerian entrepreneur and pan-African investor, Tony Elumelu, has been appointed as a non-executive director of Seplat Energy Plc, one of Nigeria’s foremost publicly listed energy companies.
The appointment is widely seen as a strategic step toward strengthening indigenous leadership within the country’s oil and gas industry.
Elumelu’s entry onto the board comes shortly after Heirs Energies, an affiliate of Heirs Holdings, completed the acquisition of a 20.07 percent equity stake in Seplat in a deal valued at approximately $496 million. The investment signals growing confidence by African capital in the long-term prospects of Nigeria’s energy sector.
In announcing the appointment, Seplat’s board emphasized Elumelu’s extensive background in investment, corporate governance, and philanthropy, noting that his experience would be invaluable as the company pursues its growth ambitions amid a rapidly changing energy landscape. His insight is expected to support Seplat as it balances operational expansion with Nigeria’s transition toward a more diversified and sustainable energy mix.
As Chairman of Heirs Holdings, United Bank for Africa (UBA) Plc, Transcorp Group, and the Tony Elumelu Foundation, Elumelu has played a prominent role in driving enterprise development and wealth creation across Africa. His leadership philosophy, centered on Africapitalism, advocates for the private sector as a catalyst for economic transformation on the continent.
The appointment is being hailed as a significant milestone for African participation and ownership in the energy industry. It reinforces Seplat Energy’s position as a key player in Nigeria’s oil, gas, and power supply sectors, while underscoring a broader push to ensure that Africans take the lead in shaping the future of the continent’s strategic industries.
