Seplat
Energy Plc ("Seplat Energy" or "the Company")
Appointment of Mr. Udoma Udo Udoma as Independent
Non-Executive Chairman
and Mr. Bello Rabiu as Senior Independent
Non-Executive Director
Lagos and London, 29 February
2024: Seplat Energy, a leading
Nigerian energy company dual listed on both the Nigerian Exchange
Limited and the London Stock Exchange, is
pleased to announce the appointment of Mr.
Udoma Udo Udoma as the Company's new Independent Non-Executive
Chairman to succeed Mr. Basil Omiyi who will retire on March 31,
2024. Mr. Udoma's
appointment was approved after a unanimous vote by
Directors of Seplat Energy, in compliance with the Nigerian
Companies and Allied Matters Act ("CAMA") 2020 and is
effective April 1, 2024.
Seplat Energy is also pleased to announce the appointment of Mr. Bello Rabiu
as the new Senior Independent Non-
Executive Director effective April 1, 2024, to succeed Dr. Charles
Okeahalam who will be retiring March 31, 2024.
These appointments are in line with
the Board Succession Forward Plan announced via Corporate
Announcement on April 25, 2023 (RNS: 3575X)
and via a subsequent Corporate Announcement on November 1, 2023
(RNS: 0096S) wherein it was announced that
Mr. Basil Omiyi and Dr Charles Okeahalam will retire from the Board
on March 31, 2024. These appointments further demonstrate the
commitment of the Board to upholding its
strong corporate governance culture and in establishing a truly
independent Board.
Mr. Udoma Udo
Udoma: Mr. Udoma is
an accomplished lawyer and seasoned board administrator. Mr. Udoma
attended St. Catherine's College, Oxford, England where he obtained
a B.A. (Law) degree and a B.C.L. degree in jurisprudence. He was
admitted to the Nigerian Bar in 1978. He founded the Law Firm
Udo-Udoma & Belo Osagie in 1983 and retired from active legal
practice in early 2020. Whilst in practice, Mr. Udoma specialized
in advising on Nigerian investment laws and the investment
environment, particularly in the petroleum, energy, and natural
resources sectors. He advised Nigerian and international companies
on company law, corporate restructuring, mergers and acquisitions
and the raising of financing in the capital and money markets, as
well as on major construction and engineering contracts.
Mr. Udoma has served on a number of
large sized company boards. He was Chairman of UAC Nigeria Plc and
Union Bank Plc and served on the boards of companies such as
Unilever Nigeria Plc., Linkage Assurance Plc and First Hydrocarbon
Nigeria Limited. He has also held a number of public sector
appointments. He was the first Chairman of the Corporate Affairs
Commission (CAC) and has also served as the Chairman of the
Nigerian Securities & Exchange Commission (SEC). He was the
Special Adviser to the Minister of Petroleum and Natural Resources
from September 1993 to March 1994 and served as Minister of Budget
& National Planning from 2015 to 2019. He was elected to the
Nigerian Senate in 1999 and served for two terms from 1999 to 2007.
Mr. Udoma is currently the Pro-Chancellor of Akwa Ibom State
University, Ikot Akpaden, Akwa Ibom State, Nigeria.
Mr. Bello Rabiu: Mr. Bello Rabiu holds a Bachelor's
and Master's Degrees in Mathematical Statistics from Ahmadu Bello
University Zaria, Nigeria and another Master's Degree in Petroleum
Engineering from The Imperial College, London, United Kingdom. He
attended many career advancements courses in Nigeria and abroad
including the prestigious Wharton Executive Development Program
from the University of Pennsylvania in Philadelphia, USA and
Leading Global Business Program from Harvard Business School,
Boston, USA.
Before his new role as the Founder
and Chief Executive Officer of Dankiri Farms and Commodities
Limited, Mr. Rabiu retired from the services of Nigerian National
Petroleum Corporation (NNPC) in July 2019 after 28 years of
service. He retired from NNPC as the Chief Operating Officer/Group
Executive Director (COO/GED), Upstream Business Unit. Prior to his
appointment as COO/GED Upstream, NNPC. Mr. Rabiu held dual
positions of Group General Manager, Corporate Planning &
Strategy Division and Senior Technical Assistant to Group Managing
Director, NNPC. He was also the General Manager, Competitive
Analysis Department of the same Division from September 2010 till
August 11th, 2015. He was at various times between 1991 and 2005 a
planning officer and Pioneer Head, Material Management, Frontier
Exploration Services at the National Petroleum Investment
Management Services (NAPIMS) Division of NNPC.
As COO/GED Upstream of NNPC, Mr.
Rabiu oversaw the activities of the Corporation's Upstream
businesses, including; National Petroleum Investment Management
Services (NAPIMS), National Engineering and Technical Company
(NETCO), Nigerian Petroleum Development Company (NPDC), Integrated
Data Services Limited (IDSL) and NNPC Oil Field Services (NOFS). He
has a balanced knowledge of the Exploration & Production
industry in Nigeria with unusual capability which combines
commercial/fiscal knowledge with operations. This was particularly
valuable in the development of the 2016 Nigerian Government
approved upstream Joint Venture funding scheme which has restored
the confidence of the International Oil Companies (IOCs) and
Independent Partners in Nigeria's Upstream Joint Venture resulting
in increased national oil production of 2.3mbpd by 2019. He was
responsible for the implementation of the 7 Critical Domestic Gas
Development Projects (including AGPC), an offshoot of Nigerian Gas
Master Plan aimed at using gas for Nigeria's industrialization,
economic growth, and development - where significant consideration
had to be given to strategic intent, fiscal rules, and
commerciality of supply.
Mr.
Basil Omiyi, the Chairman of Seplat
Energy, said:
"Seplat Energy's commitment
to strong corporate governance remains unwavering and is
demonstrated by the recent appointment of Mr. Udoma Udo Udoma and
Mr. Bello Rabiu as the new chairman and SINED
respectively.
We are confident that under their
guidance, Seplat Energy will continue to expand and consolidate its
position as Nigeria's leading energy company and the partner of
choice to deliver energy transition for Africa's largest economy
and its rapidly growing population."
For: Seplat Energy Plc
MRS. EDITH ONWUCHEKWA
Company Secretary / Director
Legal
Enquiries:
Seplat Energy Plc
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Emeka Onwuka,
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Chief Financial
Officer
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Chioma Afe,
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Director External Affairs and Social
Performance
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Edith Onwuchekwa,
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Company Secretary/Director Legal
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James Thompson,
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Head of Investor
Relations
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FTI Consulting
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Ben Brewerton / Christopher
Laing
+44 (0) 203 727
1000 seplat@fticonsulting.com
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About Seplat Energy Plc
Seplat Energy is Nigeria's leading
indigenous energy company. Listed on the Nigerian Exchange Limited
(NGX: SEPLAT) and the Main Market of the London Stock Exchange
(LSE: SEPL), we are pursuing a Nigeria-focused growth strategy in
Oil and Gas, as well as developing a Power & New Energy
business to lead Nigeria's energy transition.
For further information, please
refer to the Company's website: https://www.seplatenergy.com/