Shareholders have confirmed the appointment of Tony Elumelu, chairman of Hiers Energies, an indigenous oil and gas company, as a non-executive director of the board of Seplat Energy.
The appointment of Elumelu into the Seplat board was confirmed during the company’s 13th annual general meeting (AGM) on Wednesday in Lagos.
During the AGM, the shareholders were asked to vote to confirm the appointment of Elumelu to the Seplat board as one of the AGM resolutions.
The resolution to confirm Elumelu’s appointment was supported by 99.96 percent of the Seplat shareholders who voted during the AGM.
In January, Heirs Holdings Limited and Heirs Energies Limited acquired a 20.07 percent equity stake previously held by Maurel et Prom SA (M&P), a French firm, in Seplat Energy Plc.
Seplat had announced the resignation of Olivier Cleret De Langavant, who joined the board on 28 January 2020 as a nominee of M&P — but left after the French company’s exit.
Speaking about the presence of Elumelu in the Seplat board, Udo Udoma, the company’s board chairman, said the purchase of Seplat shares by Elumelu is a sign that the company is successful.
Udoma said it is a welcome development to have the expertise and the experience of Elumelu in the company’s board
You know you’re successful when everybody wants to buy your shares. So it’s a sign of our success, Udoma said.
“And when Heirs and Tony Elumelu bought into Seplat, in fact, when he bought, he said so. He said he’s buying because he likes the company. He’s very welcome to the company.
“It’s good to have somebody with his broad experience and expertise on our board. It’s definitely a plus for us to have Tony Elumelu on our board.”
Addressing the shareholders during the AGM, Udoma said the acquisition of Mobil Producing Nigeria Unlimited (MPNU) from ExxonMobil has increased Seplat’s working interest production from 52,947 barrels of oil equivalent per day (boepd) in 2024 to 131,506 boepd in 2025.
The board chairman said the acquisition has positioned Seplat Energy as a “major energy producer in an industry that is itself experiencing significant transformation”.
Udoma assured shareholders that the company’s management and board would ensure high returns on their investments in the company.
