Oredola Adeola

Mr. Tony Elumelu, Founder and Chairman of Heirs Holdings Limited and Heirs Energies Limited, has been appointed as a Non-Executive Director and nominee on the board of Seplat Energy following the resignation of Mr. Olivier Cleret de Langavant, the Etablissements Maurel et Prom SA (M&P) nominee, with both changes taking effect on Thursday, January 22, 2026.

The development follows the company’s earlier announcement on the sale of Etablissements Maurel et Prom SA’s 20.07 per cent equity stake in Seplat Energy to a consortium comprising Heirs Holdings Limited and Heirs Energies Limited.

The company disclosed this in a statement signed by Mrs. Edith Onwuchekwa, Director Legal and Company Secretary of Seplat Energy, which was received by Advisors Reports on Thursday, alongside the announcement of the resignation and appointment of the Non-Executive Director.

Onwuchekwa in the statement revealed that Mr. Langavant, who joined the Board on 28 January 2020 as M&P, has rendered exceptional service throughout his tenure, providing strategic technical counsel and invaluable insights that have materially supported the Company’s progress, according to statement

The Board described Elumelu as a distinguished African investor and philanthropist, globally recognized as one of the most prominent voices on Africa’s transformation agenda.

“He is the Founder and Chairman of Heirs Holdings, a diversified investment company with interests across strategic sectors of the African economy, including energy, power, banking, insurance, technology, real estate, hospitality, and healthcare.

He also serves as Chairman of United Bank for Africa (UBA) Group, Heirs Energies, Transcorp Group, whose subsidiaries include Transcorp Power, and Transcorp Hotels Plc, Nigeria’s foremost hospitality brand.

In 2010, he established The Tony Elumelu Foundation (TEF), the leading philanthropy dedicated to empowering African entrepreneurs across all 54 African countries.

His global influence has been widely acknowledged, including recognition as one of TIME Magazine’s 100 Most Influential People in the World (2020) and the conferment of the Commander of the Order of the Federal Republic (2022).

He also serves on several global boards, including UNICEF’s Generation Unlimited Global Leadership Council and the International Monetary Fund’s Advisory Council on Entrepreneurship and Growth,” the Board stated.

The Board further expressed confidence that Elumelu’s extensive experience and visionary leadership would significantly advance Seplat Energy’s strategic objectives and strengthen the company’s commitment to sustainable growth and long-term success.

Commenting on the development on behalf of the Board and Management, Chairman of Seplat Energy, Mr. Udoma Udo Udoma, appreciated Mr. Olivier Cleret de Langavant for his outstanding contributions to the company over the past six years, noting that his expertise and commitment were instrumental in driving key strategic initiatives.

Udoma also welcomed Elumelu to the Board, stating that the company looks forward to leveraging his wealth of experience and leadership as Seplat Energy continues to pursue sustainable growth and value creation for all stakeholders.

Advisors Reports’ check showed that Elumelu’s Heirs Holdings emerged as the largest shareholder in Seplat Energy following a $496–500 million acquisition completed on December 31, 2025, which saw Heirs Energies acquire 86.6 million shares and Heirs Holdings purchase 33.8 million shares, bringing the total to 120.4 million shares.