Shareholders of Seplat Energy have approved the appointment of Tony Elumelu as a non-executive director on the company’s board.

The appointment was confirmed during Seplat Energy’s 13th Annual General Meeting held on Wednesday in Lagos, where shareholders voted overwhelmingly in support of the resolution.

According to the company, 99.96 per cent of shareholders who participated in the voting backed Elumelu’s appointment to the board.

Elumelu, who chairs Heirs Energies, joined the Seplat board months after Heirs Holdings and Heirs Energies acquired a 20.07 per cent equity stake in Seplat previously owned by French energy firm Maurel & Prom.

The acquisition, completed in January, followed the exit of Maurel & Prom from Seplat. The development also led to the resignation of Olivier Cleret De Langavant, who had served on the board as the French company’s nominee since January 2020.

Speaking at the AGM, Seplat board chairman Udo Udoma described Elumelu’s investment in the company as a strong indication of investor confidence in Seplat’s performance and future prospects.

Udoma said Elumelu’s experience and expertise would add value to the company’s board and strengthen its strategic direction.

He also disclosed that Seplat’s acquisition of Mobil Producing Nigeria Unlimited from ExxonMobil significantly boosted the company’s production capacity.

According to him, the company’s working interest production rose from 52,947 barrels of oil equivalent per day in 2024 to 131,506 barrels per day in 2025 following the acquisition.

Udoma added that the deal has positioned Seplat as a major player in the energy sector and assured shareholders of the board’s commitment to delivering strong returns on investment.