Jobs/Appointments
Seplat CEO Roger Brown Emoluments Rise to N3.909bn
By Adedapo Adesanya
It was a good year for Seplat Energy in 2204, with the company making a series of transformative moves that significantly altered its scale and positioning in Nigeria’s oil and gas sector.
While the most notable development was the completion of its delayed $1.28 billion acquisition of ExxonMobil’s Nigerian shallow-water business, Mobil Producing Nigeria Unlimited (MPNU), its directors and workers also saw increases in their paychecks.
Its highest paid director and chief executive, Mr Roger Brown, received total emoluments of N3.909 billion, 135.8 per cent higher than the N1.658 billion he received in 2023.
Chairman of the company, Mr Udoma Udo Udoma, received total emoluments of N1.992 billion in 2024, 250.1 per cent higher than N569 million he got a year earlier.
Seplat also noted that its executive directors, Mr Samson Ezugworie and Mrs Eleanor Adaralegbe, who are its chief operating officer and chief financial officer, respectively, received total emoluments of N4.133 billion in 2024 versus N1.493 billion in 2023.
Also, its non-executive directors received N4.896 billion for their services in 2024 against N1.707 billion in 2023. These include Mr Bello Rabiu, Madame Nathalie Delapalme, Mr Olivier Cleret De Langavant, Dr Emma FitzGerald, Mr Ernest Ebi, Mrs Bashirat Odunewu, Mr Kazeem Raimi, Ms Koosum Kalyan, Mr Christopher Okeke, and Mr Babs Omotowa.
This is part of the wider workforce of 1,446 employees which received N71.718 billion as salaries and wages in 2024 compared with the N48.468 billion paid to the staff in its 2023 fiscal year, indicating a 47.97 per cent rise.
It is important to note that the amount paid as salaries and wages by Seplat to its staff members in 2024 does not include other emoluments, allowances, and pension contributions.
This was on the back of a significant improvement in its performance in the 2024 fiscal year, following the successful acquisition of the producing assets of MPNU.
Specifically, the company’s profit before tax rose by 98.4 per cent to $379.4 million (N561.4 billion) in 2024, compared with $191.2 million (N125.5 billion) in 2023, while its profit after tax grew by 16.9 per cent to $144.8million (N214.3 billion) in 2024, from $123.9 million (N81.4 billion) in 2023.
The increase in the salaries and wages of its staff in 2024 was largely as a result of a sharp rise in its workforce, from 588 staff in 2023 to 1,446 staff in 2024, representing a 146 per cent increase in its staff strength.
It is important to note that the acquisition was concluded in December 2024, meant that the increase in its workforce came about at that time. This also means that the new staff members from Mobil only received one month’s pay as Seplat’s staff in 2024.
Specifically, the sharp increase in its workforce, according to its 2024 annual reports and accounts, stemmed from its acquisition of the assets of MPNU in 2024, which saw 863 staff of Mobil joining its existing workforce.
Another factor which contributed to the rise in salaries and wages in 2024 was the declining value of the Naira against the Dollar, which was the currency in which the company denominated the emoluments.
Giving a breakdown of its workforce, Seplat Energy disclosed that in 2024, it has 47 junior staff, 1,022 senior staff, 332 managers and 45 senior management staff compared with 39 junior staff, 343 senior staff, 165 senior staff and 41 senior management staff in 2023.
To this end, the N71.718 billion salaries and wages received by the 1,446 staff, translated to an average salary of N49.6 million for each staff per annum, which is also an equivalent of N4.133 million per month, for each staff.
In comparison, the average yearly staff salaries and wages for its 588 staff in 2023 was N82.43 million per individual, while the average monthly salary was N6.87 million per staff.
In particular, the indigenous oil firm reported that in 2024, only a total of 395 staff earned below N118.37 million each, an equivalent of N9.833 million per month; while 425 staff members earned between N118.37 million and N295.936 million, translating to between (N9.833 million and N24.66 million monthly).
Also, staff members whose annual salaries and wages were within the range of N295.936 million and N443.904 (between N24.66 million and N36.992 million monthly) stood at 450, while 176 employees received above N443.904 billion as salaries and wages.
Jobs/Appointments
Board Picks Malolan Sampath as Champion Breweries CEO After Adoga’s Exit
By Aduragbemi Omiyale
Mr Malolan Sampath has been appointed as the new chief executive of Champion Breweries Plc, effective September 1, 2026.
The appointment of a new chief executive was approved by the board of the brewery giant following the resignation of Mr Inalegwu Adoga.
To ensure continuity during the transition pending Mr Sampath’s assumption of office, the board has appointed Mr Rasheed Ademola Adebiyi, Executive Director of Finance, to take charge of the affairs of the organisation.
In a statement, the board said it remains committed to the highest standards of corporate governance and to delivering a seamless leadership transition and sustainable value to shareholders and other stakeholders.
The new Sheriff in town, expected to take over next quarter, was described as an accomplished executive with over 26 years of international leadership experience across the beverage, FMCG, manufacturing and agro-industrial sectors, having built and led businesses up to $500 million in scale.
His beverage and brewing experience includes serving as Managing Director of Unique Beverages in Angola and as Sales & Marketing Director for a PepsiCo bottling franchise, in addition to earlier brewing-sector experience.
Most recently, he held the dual role of Managing Director (NPK Joint Venture) and Chief Marketing Officer at Indorama Eleme Fertilisers in Nigeria and previously served as Chief Executive Officer of Global Industries Limited, a Wilmar International joint venture in Zambia.
He holds a Postgraduate Diploma in Management (MBA) from the Symbiosis Centre for Management & HRD, Pune, and a Bachelor of Business Administration from the University of Chennai.
The board expressed confidence that his expertise in manufacturing excellence, commercial execution and business transformation will support the company’s strategic objectives and long-term growth.
Jobs/Appointments
Julius Berger Appoints Muiz Banire, Chinazo Okoye to Board
By Aduragbemi Omiyale
Erudite legal practitioner, Mr Muiz Banire (SAN), has been appointed to the board of a construction giant, Julius Berger Nigeria Plc.
He joins the board of the organisation as a non-executive director, with effect from July 1, 2026, alongside Mrs Chinazo Okoye, who is an alternate director to Dr Ernest N. Azudialu-Obiejesi.
A statement from the company secretary, Ms Cecilia Ekanem Madueke, said Mrs Okoye is a graduate of the University of Michigan, Ann Arbor, Michigan, USA, and holds a Bachelor of Science in Mechanical Engineering, Master of Engineering Degree in Mechanical Engineering from the Cornell University, Ithaca, New York, USA, and a Master of Science Degree in Professional Accountancy from the University of London, London, UK.
She is a Chartered Certified Accountant (ACCA) of the Association of Chartered Certified Accountants. She has worked in various positions in various companies and is currently the Managing Director of Amaranta Trading Limited.
As for Mr Banire, he is a graduate of the University of Lagos and holds a Master of Laws Degree as well as a Doctor of Philosophy Degree from the same university.
He was called to the Nigerian Bar in 1989. He also holds a Master Certificate in the Arbitration Master Course from the Lagos Court of Arbitration Training Institute. He was admitted to the Inner Bar and conferred with the rank of Senior Advocate of Nigeria (SAN). He is a Member of the International Bar Association, the Institute of Chartered Secretaries and Administrators, an Associate Member of the Chartered Institute of Arbitrators, a Fellow of the Institute of Transport Administration of Nigeria, and the Nigerian Institute of Management. He is registered with the Law Society of England.
He had served in various capacities in the Legal profession, academic community and publicly. He was conferred with the National Honour of the Officer of the Order of the Niger (OON).
He is the Founder and Principal Partner, M. A. Banire & Associates, Member of the Board of Trustees, Fountain University, Osogbo, Osun State, and Pro-Chancellor of the University of Uyo, Akwa Ibom State.
Jobs/Appointments
Access ARM Pensions Appoints Sa’adu Jijji as Chief Executive
By Adedapo Adesanya
Access Holdings Plc appointed Mr Sa’adu Jijji as the new chief executive of Access ARM Pensions Limited, its pension subsidiary.
The appointment has received all necessary regulatory approvals, including the board of Access ARM Pensions, reflecting the group’s continued focus on deepening leadership capacity across its subsidiaries and reinforcing its position in Nigeria’s pension industry.
Mr Jijji obtained a Master of Business Administration (MBA) from the Saïd Business School, University of Oxford and a bachelor’s degree in Business Administration.
He is a seasoned executive with over two decades of experience in the financial services sector, spanning pension fund administration, investment management, actuarial consulting, and corporate strategy.
Mr Jijji has held senior leadership roles at Premium Pension Limited, Alexander Forbes Consulting Actuaries Nigeria and Pension Alliance Limited (PAL Pensions), where he served as acting managing director.
Also, his appointment underscores Access Holdings’ commitment to delivering long-term value to retirement savings account holders and other stakeholders, while advancing its broader strategy of building globally competitive financial services businesses.
In 2024, Access Pensions Limited acquired a majority stake in ARM Pensions Managers Limited to create Nigeria’s second-largest Pension Fund Administrator by Assets Under Management.
At the time, the then-Group Chief Executive, Access Holdings, Mr Herbert Wigwe, said, “We are pleased to have reached this transformative milestone in our pension fund administration journey. The proposed combination of ARM Pension with Access Pensions will not only create sustainable stakeholder value but will also contribute positively to the growth and development of the pension industry.”
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