Seplat Energy has announced that Engineer Saidu Aliyu Mohammed has withdrawn his acceptance to join the company’s board following his recent appointment as Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The withdrawal comes just days after Seplat announced Mohammed’s appointment as an Independent Non-Executive Director, which was scheduled to take effect on January 1, 2026.
In a statement released today, Company Secretary Edith Onwuchekwa explained the circumstances behind the withdrawal.
“Following the recent appointment of Engineer Saidu Aliyu Mohammed by the Federal Government of Nigeria as Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Company confirms that it has today received formal notification from Engineer Mohammed withdrawing his acceptance of the appointment to the Board of Seplat Energy, due to the resulting conflict of interest,” Onwuchekwa said.
The conflict of interest arises from Mohammed’s new regulatory role overseeing Nigeria’s midstream and downstream petroleum sector, which would have made his position on Seplat’s board untenable.
Despite the setback, Seplat expressed strong support for Mohammed’s government appointment. “The Company congratulates Engineer Mohammed on his appointment and fully supports this national assignment. We acknowledge the honour of serving in such a capacity and believe his appointment will bring valuable contributions to the industry,” Onwuchekwa stated.
Seplat Energy, one of Nigeria’s leading independent oil and gas producers, indicated it would announce a replacement for the board position in due course. “We will update the market in due course on any future appointment to the role,” the company secretary confirmed.
The energy firm closed trading on Monday at ₦5,809.00 per share on the Nigerian Exchange Limited (NGX). The company’s stock closed at this price at the end of trading on Monday, December 22, 2025.
News.ng reports that the company entered the year with a share value of ₦5,700.00, reflecting a 1.91 per cent increase so far in 2025. Based on its year-to-date performance, Seplat is ranked 109th among listed equities on the NGX.
