By Shakirat Akintola

Seplat Energy Plc, one of Africa’s leading independent energy companies, has announced a sweeping overhaul of its top leadership. Billionaire investor Tony O. Elumelu, CFR, was named the company’s next Chairman while veteran energy executive, Engr. Effiong Okon will take over as Chief Executive Officer.

The dual-listed company (NGX: SEPLAT, LSE: SEPL) filed the notice on Tuesday, mapping out a comprehensive corporate succession plan designed to shepherd the energy giant into its next phase of growth under its ambitious “Roadmap 2030” strategy.

The New Guard: Back-to-Back Transitions

The changes will unfold in two distinct phases over the coming months to ensure strict governance continuity:

August 1, 2026: Engr. Effiong Okon will assume office as CEO and Executive Director, following the retirement of long-serving CEO Roger Brown on July 31, 2026.

<span;><span;>*   January 1, 2027: Mr. Tony O. Elumelu will formally take over as Chairman of the Board, following the retirement of current Independent Chairman, Senator Udoma Udo Udoma, CON, on December 31, 2026.

End of a Transformational Era for Brown and Udoma

The outgoing leadership leaves behind a massively expanded corporate footprint. Outgoing CEO Roger Brown caps off a 13-year legacy with the firm, having served initially as CFO during Seplat’s landmark dual listing in Lagos and London in 2014, and subsequently as CEO for six years.

Under Brown’s stewardship, Seplat executed game-changing consolidations—most notably the 2019 acquisition of Eland Oil and Gas, and the 2024 blockbusting acquisition of Mobil Producing Nigeria Unlimited (MPNU).

Similarly, outgoing Chairman Senator Udoma Udo Udoma, who took the helm in April 2024, is credited with successfully stabilizing the board, steering the complex integration of the MPNU assets, and codifying the company’s 2030 corporate blueprint.

“Roger has been ever-present in Seplat Energy’s journey… he leaves us well-placed to continue to deliver for all our stakeholders,” Senator Udoma stated in the release.

Inside the Profiles of the Incoming Leaders

The incoming leadership pairs deep, hands-on operational grit with unparalleled pan-African macroeconomic influence.

Engr. Effiong Okon brings over 35 years of global energy experience to the CEO role. A former Shell heavyweight who managed major deepwater and shallow-water offshore assets, Okon is intimately familiar with Seplat, having previously served as its Operations Director and New Energy Director. Most recently, as Managing Director of the ANOH Gas Processing Company, he successfully steered the critical infrastructure project to its historic “first gas” milestone in January 2026.

Mr. Tony Elumelu, the Chairman-elect, stepped onto Seplat’s board in January 2026 after his investment firm, Heirs Energies, executed a landmark $500 million transaction to acquire a 20.07% stake in the company—cementing Heirs as Seplat’s single largest shareholder. As the Chairman of United Bank for Africa (UBA) and Transcorp Group, Elumelu brings a legendary track record of institutional building and value creation to the table.

Looking Toward 2030

The restructuring signals Seplat’s aggressive pivot toward domestic gas infrastructure development and carbon reduction. Incoming CEO Effiong Okon emphasized that his immediate priority would be “ensuring the Company executes the 2030 Roadmap” to unlock the raw value of its recently expanded portfolio.

For Elumelu, the appointment aligns with his core economic philosophy of Africapitalism—the belief that the private sector must lead the continent’s development through long-term investments.

“I firmly believe in the critical role indigenous resources play in the economic transformation of Nigeria and Africa,” Elumelu noted, signaling that under his chairmanship, Seplat will likely push harder to dominate the regional energy transition landscape.

The markets will be watching closely as the transition begins on August 1st.

In commemoration of World Environment Day 2026, the UBA Foundation, the Corporate Social Responsibility arm of United Bank for Africa (UBA) Group, has reinforced its commitment to environmental sustainability through a tree-planting exercise at two of Lagos’ most historic educational institutions – King’s College, Lagos, and CMS Grammar School, Bariga.

The exercise marks the commencement of the Foundation’s 2026 Tree Planting for Sustainability Initiative, which is being implemented across selected schools in Nigeria to promote environmental consciousness among young people and encourage climate-positive action.
Observed annually on June 5 and coordinated by the United Nations, World Environment Day is the world’s leading platform for environmental awareness and advocacy. The 2026 theme, “Inspired by Nature. For Climate. For Our Future,” underscores the urgent need for collective action to address climate change and environmental degradation.

Speaking during the exercise at CMS Grammar School, Managing Director/CEO, UBA Foundation, Bola Atta, described the initiative as a strategic investment in the future.

“We want young people to understand that the environment needs our collective support and protection. Through initiatives like this, we are encouraging the next generation to embrace sustainable practices that will help create healthier communities and a better future for all,” she said.

Now in its fourth year, the Tree Planting for Sustainability Initiative is designed to instill environmental responsibility in students by integrating sustainability practices into school communities and empowering young people to become environmental ambassadors.

Atta explained that the choice of King’s College and CMS Grammar School was deliberate, reflecting both institutions’ rich heritage and their capacity to sustain the initiative over time.

“These are iconic institutions with deep historical significance. CMS Grammar School is Nigeria’s oldest secondary school, while King’s College has been shaping leaders for more than a century. We wanted schools where these trees will be nurtured and allowed to flourish for generations to come,” she noted.

The initiative comes at a time when rapid urbanisation has continued to reduce green spaces across many Nigerian cities, highlighting the need for sustained environmental restoration efforts.

“Over the years, development has often taken precedence over environmental preservation, leading to the loss of many trees and green areas. However, there is no better time than now to begin restoring our environment and making a lasting impact,” Atta added.

The exercise forms part of UBA Group’s broader commitment to Environmental, Social and Governance (ESG) principles.
Speaking at the event, UBA’s Group Chief Risk Officer, Awele Ajibola, emphasized the importance of proactive environmental stewardship in addressing climate-related risks.

“At UBA, initiatives like this demonstrate our commitment to the environment and the communities we serve. Climate change presents real and growing risks, and as a responsible financial institution, we recognise our role in driving positive environmental action and sustainable development,” Ajibola stated.

The tree-planting exercise is one of several activities being implemented by the Group to commemorate #WED2026. Other activities include UBA’s inauguration as a member of the Finance Taskforce for Plastic Action in Nigeria, Green Talk sessions with customers across branches, the launch of Sustainability Clubs in participating schools, environmental awareness campaigns across the Bank’s communication platforms, and a month-long Green Challenge designed to encourage environmentally responsible behaviour.

Commending the initiative, Principal of CMS Grammar School, Revd. Jacob Ayokunle Ogunyinka, described the exercise as a practical extension of environmental education.

“Our students learn about the importance of trees and environmental conservation in the classroom. Seeing these principles demonstrated in practice deepens their understanding and inspires greater responsibility towards protecting the environment,” he said.

Similarly, Principal of King’s College, Magaji Zachariah, expressed appreciation to UBA Foundation for selecting the institution as one of the beneficiaries of the programme and for investing in environmental education.

Beyond planting trees, the Foundation engaged students in discussions on environmental stewardship, encouraging responsible practices such as proper waste disposal, water conservation, recycling, and energy efficiency.

Referencing the famous words of Nobel Laureate and environmentalist Wangari Maathai, Atta reminded participants of the importance of immediate action: “The best time to plant a tree was twenty years ago. The second-best time is now.”

UBA Foundation is the Corporate Social Responsibility arm of United Bank for Africa (UBA) Group. The Foundation is committed to the socio-economic development of communities across Africa through strategic interventions focused on education, environmental sustainability, economic empowerment, and special projects.

Across Africa, Environmental, Social, and Governance (ESG) conversations are no longer limited to multinational corporations or sustainability departments. ESG has become a strategic issue influencing investment decisions, regulatory expectations, organizational reputation, operational resilience, and long-term business sustainability.

As African economies continue to evolve, organizations are under increasing pressure to align profitability with environmental responsibility, social impact, ethical governance, and climate resilience.

This growing urgency is one of the reasons Audit, Advisory, Assurance & Assessment Services Ltd (A4S) continues to organize ESG trainings and professional development programs aimed at equipping African organizations and professionals with the knowledge, tools, and frameworks needed to navigate the future responsibly.

This article is based on a conversation with Edith Ugochukwu, Chief Operating Officer of Audit, Advisory, Assurance and Assessment Services Ltd (A4S).

1. Why is ESG becoming increasingly important for organizations in Africa?

For many years, ESG was often perceived in Africa as a “global trend” primarily relevant to large international corporations. However, the business landscape has changed significantly.

Today, investors, development finance institutions, regulators, customers, and global supply chains increasingly expect organizations to demonstrate responsible environmental practices, ethical governance systems, social accountability, and sustainability commitments.

African organizations are now operating in an environment shaped by: Climate-related risks, rising stakeholder expectations, Governance scrutiny, Youth unemployment concerns, Social inequality, Environmental degradation, Global sustainability standards, Responsible investment requirements

As a result, ESG is no longer optional, it has become a strategic business necessity.

Organizations with strong ESG systems are increasingly better positioned to:

• Attract investors and international funding
• Access global markets and partnerships
• Improve stakeholder trust
• Strengthen brand reputation
• Enhance operational resilience
• Reduce long-term risks
• Improve governance and accountability
• Support sustainable growth

One key message consistently emphasized in A4S ESG trainings is that ESG should not be treated as a public relations exercise. Effective ESG implementation must be integrated into organizational strategy, leadership decision-making, risk management, and operational culture.

In Africa particularly, ESG also presents an opportunity for organizations to contribute meaningfully to economic transformation, social inclusion, and sustainable development while remaining competitive globally.

2. Why do many African organizations still struggle with ESG implementation?

One of the biggest misconceptions about ESG is that awareness automatically translates into implementation. Across many African organizations, there is growing awareness of ESG concepts, but practical implementation remains a significant challenge.

Several factors contribute to this gap.

First, many organizations still lack a clear understanding of what ESG truly entails. ESG is often misunderstood as merely environmental compliance or corporate social responsibility (CSR). In reality, ESG is broader and includes:

• Climate management
• Ethical leadership
• Governance structures
• Human rights considerations
• Workplace practices
• Diversity and inclusion
• Risk management
• Sustainability reporting
• Community impact
• Supply chain responsibility

Another challenge is limited technical capacity. Many organizations lack trained professionals who can design, implement, measure, monitor, and report ESG initiatives effectively.

There are also concerns around: Data availability and quality, Inadequate reporting systems, weak governance culture, Limited sustainability policies, Short-term business focus, Regulatory inconsistencies, Funding limitations

In some cases, organizations approach ESG reactively, implementing initiatives only when required by regulators, investors, or international partners.

A4S ESG trainings aim to bridge this implementation gap by helping professionals understand not only the theory behind ESG, but also the practical strategies required to integrate ESG into real organizational systems and operations within African contexts.

The trainings emphasize practical application, African realities, case studies, risk-based thinking, governance alignment, and sustainability integration rather than abstract global concepts alone.

3. Why is ESG particularly critical for Africa’s future development?

Africa faces a unique combination of economic, environmental, and social challenges that make ESG especially important for the continent’s future.

The continent is highly vulnerable to climate change despite contributing relatively little to global carbon emissions. Many African countries are already experiencing:

• Flooding
• Desertification
• Food insecurity
• Water scarcity
• Extreme weather events
• Energy challenges
• Environmental degradation

At the same time, Africa has one of the world’s youngest populations, creating urgent demands for: Employment opportunities, Inclusive economic growth, Social equity, Ethical leadership, Sustainable infrastructure, Long-term development planning

This is where ESG becomes highly relevant.

Strong ESG systems can help organizations and institutions build more resilient economies by promoting: Sustainable business practices, Responsible resource management, Transparent governance, Ethical leadership, Community impact, Workforce wellbeing, Climate adaptation, Long-term value creation

A4S recognizes that Africa cannot simply copy ESG models developed in other regions without adapting them to African realities. This is why the organization continues to create platforms, trainings, and professional conversations focused on contextualizing ESG implementation for African organizations.

The objective is not merely compliance with global expectations, but building sustainable systems capable of supporting Africa’s long-term economic and social transformation.

4. What role does governance play in successful ESG implementation?

One of the most overlooked components of ESG discussions is governance, yet it is often the foundation upon which environmental and social performance depends.

Without strong governance systems, ESG initiatives frequently become inconsistent, unsustainable, or performative.

Governance within ESG includes: Leadership accountability, Ethical decision-making, Transparency, Risk management, Board oversight, Internal controls, Anti-corruption practices, Regulatory compliance, Organizational culture, Stakeholder engagement

Many organizations focus heavily on environmental or social activities while neglecting governance structures that ensure sustainability and accountability.

The reality is that poor governance undermines ESG performance.

For example:

• Weak governance can lead to environmental negligence.
• Lack of transparency can damage stakeholder trust.
• Poor accountability structures can increase compliance and reputational risks.
• Ineffective leadership commitment can prevent ESG initiatives from succeeding.

A4S ESG trainings consistently emphasize that ESG must be leadership-driven rather than department-driven. Boards, executives, and senior management teams must understand that ESG is not only about sustainability reporting, it is about how organizations are governed, managed, and positioned for long-term resilience.

Strong governance creates the structure necessary for meaningful ESG integration.

5. Why does A4S continue to organize ESG trainings for African professionals?

A4S recognizes that Africa’s sustainable future will depend heavily on the capacity of its professionals, institutions, and organizations to manage emerging ESG realities effectively.

The ESG landscape is evolving rapidly. Regulatory frameworks, investor expectations, sustainability standards, climate disclosures, and stakeholder demands continue to change globally. Many organizations across Africa are still trying to understand how these changes affect their operations and long-term sustainability.

This creates a growing need for practical ESG education and professional development.

A4S organizes ESG trainings to:

• Build ESG competence across industries
• Equip professionals with practical implementation skills
• Promote responsible governance practices
• Strengthen sustainability leadership
• Encourage integrated thinking
• Improve organizational resilience
• Prepare organizations for future regulatory and investor expectations
• Facilitate African-focused ESG conversations

The trainings are also designed to encourage collaboration among professionals from different sectors including: Manufacturing, Energy, Financial services, Education, Consulting, Oil and gas, Public sector institutions, Sustainability and compliance functions

Most importantly, A4S believes ESG conversations in Africa should move beyond trends and buzzwords toward practical action, measurable impact, and sustainable systems that address African realities.

As ESG continues to shape the future of business globally, African organizations that invest early in sustainability competence, governance maturity, climate resilience, and responsible business practices will likely be better positioned for long-term success.

The future of ESG in Africa will not be built by policies alone — it will be built by informed professionals, responsible leadership, and organizations willing to transform how business is done across the continent.