Seplat Energy Appoints Udoma Udo Udoma as Independent Non-Executive Chairman, Bello Rabiu as Senior Independent Non-Executive Director
Seplat Energy, a prominent Nigerian energy firm listed on both the Nigerian Exchange Limited and the London Stock Exchange, has named Mr. Udoma Udo Udoma as its new Independent Non-Executive Chairman, succeeding Mr. Basil Omiyi, who will retire on March 31, 2024. Mr. Udoma’s appointment was unanimously approved by the Seplat Energy Directors and is effective April 1, 2024, in compliance with the Nigerian Companies and Allied Matters Act (“CAMA”) 2020.
Additionally, Seplat Energy has appointed Mr. Bello Rabiu as the new Senior Independent Non-Executive Director, effective April 1, 2024, to succeed Dr. Charles Okeahalam, who will retire on March 31, 2024.
These appointments align with the Board Succession Forward Plan announced on April 25, 2023 (RNS: 3575X) and November 1, 2023 (RNS: 0096S), which stated that Mr. Basil Omiyi and Dr. Charles Okeahalam would retire from the Board on March 31, 2024. These appointments underscore the Board’s commitment to maintaining a robust corporate governance culture and establishing an independent Board.
Mr. Udoma Udo Udoma is an accomplished lawyer and seasoned board administrator. He holds a B.A. (Law) and a B.C.L. degree in jurisprudence from St. Catherine’s College, Oxford, England, and 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.
- During his legal career, Mr. Udoma specialized in advising on Nigerian investment laws and the investment environment, particularly in the petroleum, energy, and natural resources sectors.
- He has served on several large-sized company boards, including UAC Nigeria Plc and Union Bank Plc, and held public sector appointments such as Chairman of the Corporate Affairs Commission (CAC) and Chairman of the Nigerian Securities & Exchange Commission (SEC).
- He was also 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.
- Mr. Udoma is currently the Pro-Chancellor of Akwa Ibom State University, Ikot Akpaden, Akwa Ibom State, Nigeria.
- Mr. Bello Rabiu holds a Bachelor’s and Master’s Degrees in Mathematical Statistics from Ahmadu Bello University Zaria, Nigeria, and a Master’s Degree in Petroleum Engineering from The Imperial College, London, United Kingdom.
- He has attended numerous career advancement courses in Nigeria and abroad, including the Wharton Executive Development Program from the University of Pennsylvania in Philadelphia, USA, and the Leading Global Business Program from Harvard Business School, Boston, USA.
- Before his current 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.
- Mr. Rabiu has a balanced knowledge of the Exploration & Production industry in Nigeria, combining commercial/fiscal knowledge with operations. He was responsible for the implementation of the 7 Critical Domestic Gas Development Projects (including AGPC), an offshoot of the Nigerian Gas Master Plan aimed at using gas for Nigeria’s industrialization, economic growth, and development.
Mr. Basil Omiyi, the Chairman of Seplat Energy, commented on the appointments, stating that 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.
He expressed confidence 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
