Ikeja Electric appoints new Acting CEO

Ikeja Electric has appointed Mrs Ogochukwu Onyelucheya as its Acting Chief Executive Officer, effective July 1, 2026, following the transition of its current chief executive officer, Mrs Folake Soetan, to a broader strategic role within the energy sector.

The electricity distribution company disclosed this in a statement signed by its Head of Corporate Communications, Kingsley Okotie, on Saturday, saying the leadership transition is aimed at strengthening the company’s leadership to accelerate growth, innovation and service excellence across the power sector value chain.

According to the company, Soetan, who has served as chief executive officer since 2020, will take on wider strategic responsibilities across Sahara’s power and upstream businesses after leading the transformation of Ikeja Electric over the past six years.

According to the statement, the Chairman of Ikeja Electric, Kola Adesina, commended Soetan’s leadership, describing her tenure as transformative.

He said, “Folake has been instrumental in transforming Ikeja Electric into a more resilient, customer-focused, and performance-driven organisation. Her leadership reflects the very essence of innovation, resilience, and impact.”

The company said Soetan oversaw significant improvements in operational performance, strengthened stakeholder confidence and positioned Ikeja Electric for sustainable growth within Nigeria’s evolving electricity landscape.

Reflecting on her tenure, Soetan said, “It has been an honour to lead Ikeja Electric and work alongside a team committed to delivering value to customers and communities. As I take on this new role across Sahara’s power and upstream businesses, I look forward to supporting the group’s vision of delivering sustainable, inclusive, and impactful energy solutions across Africa.”

The board said Onyelucheya’s appointment reflects its confidence in her leadership capabilities, strategic vision and track record of driving organisational transformation and sustainable performance.

Adesina said, “Ogochukwu brings a compelling blend of leadership experience, strategic clarity, and execution discipline. We are confident in her ability to build on the strong foundation established at Ikeja Electric while driving innovation, efficiency, and customer-centric growth. She has our full support as she leads the business into its next chapter.”

According to the company, Onyelucheya is a senior corporate executive and financial leader with more than 20 years of experience in business strategy, financial management and operational growth across the banking and energy sectors.

It said she has specialised in leading large-scale business turnarounds through process digitisation, automation and the deployment of robust revenue assurance systems to improve operational efficiency and financial performance.

She holds a Bachelor of Science degree in Accounting from Nnamdi Azikwe University, a Master of Science degree in Finance and Financial Law from the University of London and is an alumnus of Harvard Business School.

Speaking on her appointment, Onyelucheya pledged to build on the company’s achievements while improving customer service and operational performance.

“Taking on the responsibility of building on the strong foundation at Ikeja Electric is a privilege for the incredible IE team and me. Our focus remains on delivering improved service, deepening customer trust, and driving sustainable performance as we continue to create value for all stakeholders.”

Adesina said the leadership transition demonstrates Ikeja Electric’s commitment to continuity, operational excellence and the delivery of reliable energy solutions that improve customer experience, expand energy access and support sustainable development.

He added that the company is well-positioned to strengthen stakeholder confidence and continue creating value for customers, employees, regulators, investors and the communities it serves.