Effiong Okon: Set to Lead Seplat in an Era of Sustainability

On 1 August 2026, Effiong Okon will mount the saddle at Seplat Energy eight years after he first joined the company that has evolved from a traditional upstream oil producer into one of Nigeria’s most important energy businesses with significant interests in natural gas, power, and lower-carbon energy opportunities.

The appointment, a culmination of a sterling career that began in Shell in 1992, has been widely held as most deserving. And rightly so.

Okon is easily among Nigeria’s most accomplished energy industry professionals, with a career that combines technical expertise with experience in business transformation and energy transition strategy across diverse geographies and cultures.

But beyond the felicitations, Okon’s appointment comes loaded with expectations, with Seplat expanding its gas business, strengthening its position in Nigeria’s energy sector and poised to play a key role in supporting the country’s transition to cleaner energy sources, and pursuing long-term growth opportunities in a rapidly evolving global energy landscape.

Okon takes the mantle of leadership at Seplat at a time when conversations around the world are increasingly focusing on sustainability, climate resilience, energy security, and the transition to lower-carbon economies. With expectations extending far beyond increasing production and delivering shareholder returns, the task before the new CEO will be how to navigate the complex balance between growth, profitability, and environmental responsibility.

Fit for Purpose

Okon appears groomed and ready for this moment. His prior experience at Seplat tells much of the story.

Just before he assumed his current position as Managing Director of ANOH Gas Processing Company (AGPC), a joint venture between Seplat Energy and NNPC Limited, in 2024, Okon spent two years as Director of New Energy at Seplat, with responsibility for the delivery of the company’s energy transition strategy from petroleum (oil and gas) to energy business by decarbonizing upstream operations, ESG, net zero emission and renewable roadmap delivery and developing new opportunities in integrated gas, electricity, and renewable energy. Effectively, he was at the centre of efforts to reposition Seplat as a company capable of supplying the energy Nigeria needs today while preparing for a future in which investors, regulators and customers increasingly demand cleaner and more sustainable energy systems.

In his current role, Okon oversees one of Nigeria’s major gas infrastructure projects, the ANOH Gas Plant, a greenfield integrated gas plant designed to process about 300 million standard cubic feet of gas per day to support domestic energy supply and industrial growth. A major breakthrough under his leadership has been the company’s achievement of its first gas in January 2026, a significant milestone for Nigeria’s gas sector.

Leading Seplat‘s Next Phase of Growth

Okon’s appointment signals the “next phase of growth” at Seplat, a phase that industry watchers say is likely to be defined less by acquisition and more by optimisation, gas expansion, energy transition opportunities and long-term sustainability.

Founded in 2009 through a partnership between Shebah Petroleum Development Company and Platform Petroleum with the objective of acquiring and operating assets being divested by international oil companies in Nigeria, Seplat Energy has grown to become the country’s leading indigenous energy producer and one of the few Nigerian companies listed simultaneously on both the Nigerian Exchange and the London Stock Exchange.

The current phase under the outgoing CEO, Roger Brown, has been marked by significant expansion through major acquisitions, including Eland Oil & Gas in 2019 and Mobil Producing Nigeria Unlimited in 2024.

The next phase under Okon is expected to focus on extracting value from those acquired assets, expanding gas infrastructure, and integrating emerging energy-transition opportunities into Seplat’s business model.

Seplat has its eyes set on its long-term growth strategy and its ambitions for 2030. Part of its 2030 target is to raise production by 50 per cent to about 200,000 barrels of oil equivalent per day, increase domestic gas supply to more than 1 Bcf/d, generate a cumulative operating cash flow of up to $6 billion, actively phase out routine flaring across all onshore assets to drastically lower Scope 1 emissions, and return $1 billion to shareholders through cumulative dividends between 2026 and 2030 underpinned by a minimum payout of $120 million annually.

Investors, regulators, communities, development partners, customers, and sustainability advocates are full of expectations. Investors expect sustainable profitability. Regulators want to see greater support for national energy goals. Communities will be looking out for responsible development and shared prosperity. For sustainability advocates like CSR REPORTERS, the expectation is measurable progress toward lower-carbon operations. And for Nigeria, it is leadership in building an energy future that balances development with environmental stewardship.

Banking on Gas to Support Nigeria’s Energy Transition

Seplat Energy is capitalizing on Nigeria’s abundant natural gas reserves, officially quoted at 215.19 trillion cubic feet (TCF) as of January 2026, to diversify revenue and provide a structural hedge against oil price volatility.

Currently the leading indigenous supplier of processed, domestic natural gas in Nigeria with approximately 30 per cent of the total gas required for electricity generation in the country, the company aims to dominate the domestic gas market, significantly increase production, and align its operations with national environmental and economic priorities through domestic gas-to-power expansion, offshore gas delivery, LPG and CNG integration, and production targets.

Okon, who has led the ANOH Gas Processing Project to its first success, is expected to further strengthen Seplat’s position as a leading domestic gas supplier.

Nigeria targets to achieve net-zero emissions by 2060. Unlike many developed economies, the country is pursuing an energy transition pathway that sees natural gas as a transition fuel capable of expanding energy access to underserved communities while reducing dependence on diesel and heavy fuel oil, supporting power generation, providing feedstock for industrialisation, and lowering emissions.

With its gas initiatives, Seplat is contributing significantly to Nigeria’s energy transition goals and will be expected to reinforce this contribution under Okon.

ESG and Sustainability Imperatives

In a world where Environmental, Social and Governance (ESG) performance has increasingly become a major consideration for investors and lenders, and climate-related regulations, carbon pricing mechanisms, and sustainability reporting requirements are becoming more stringent, stakeholders are assessing companies not only on financial performance but also on how they manage environmental risks, engage communities, uphold governance standards, and create shared value.

For a dual-listed company with exposure to local and international investors, the need to balance profitability with sustainability becomes even more pressing.

Okon will be expected to continue strengthening Seplat’s ESG framework through improved sustainability disclosures, enhanced governance practices, responsible environmental management, workforce diversity and inclusion initiatives, stronger community development programmes, and transparent stakeholder engagement.

Final Word

Okon is coming to lead Seplat at a time when stakeholders are no longer focused solely on production volumes and financial returns but are increasingly paying attention to sustainability, resilience, transparency, and long-term value creation.

Expectations are high that under Okon, Seplat will increasingly evolve from a successful oil and gas producer into a broader energy company aligned with the realities of the global energy transition.

Hopefully, both Effiong Okon and the company he is set to lead are well equipped to navigate the complexities of these new expectations and demonstrate that economic growth, energy security, and environmental responsibility can co-exist.