…Board cites leadership continuity as firm targets growth, improved customer service

Ikeja Electric has appointed Mrs. Ogochukwu Onyelucheya as its Acting Chief Executive Officer (CEO), effective July 1, 2026, marking a leadership transition aimed at accelerating growth, innovation and service excellence across the electricity distribution company’s operations.

The appointment follows the transition of Mrs. Folake Soetan, who has led the company as CEO since 2020 and will assume broader strategic responsibilities across the energy sector.
Announcing the development, Chairman of Ikeja Electric, Kola Adesina, described Soetan’s tenure as transformational, crediting her with repositioning the electricity distribution company into a stronger, customer-focused and performance-driven organisation.

“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.”
According to the company, Soetan’s leadership delivered significant improvements in operational performance, strengthened stakeholder confidence and positioned Ikeja Electric for sustainable growth within Nigeria’s evolving electricity market.

Reflecting on her stewardship of the company, Soetan expressed appreciation for the opportunity to lead the organisation while highlighting her next assignment within the Sahara Group.
“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, in approving Onyelucheya’s appointment, said it was confident in her leadership capabilities, strategic vision and deep institutional knowledge, describing her as well-positioned to lead the company through its next phase of growth.
Adesina said the incoming acting CEO possesses the experience and execution capability required to consolidate the gains already recorded by the organisation.

“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.”
Onyelucheya is a senior corporate executive and financial leader with more than two decades of experience spanning business strategy, financial management and operational growth across the banking and energy sectors.

The company said her professional career has been defined by leading large-scale business transformation initiatives through process digitisation, automation and the deployment of robust revenue assurance systems. It added that she has consistently focused on identifying structural inefficiencies, eliminating operational leakages and streamlining business processes to improve organisational performance.

She holds a Bachelor of Science degree in Accounting from Nnamdi Azikiwe University and a Master of Science degree in Finance and Financial Law from the University of London. She is also an alumnus of the Harvard Business School.
Speaking on her appointment, Onyelucheya pledged to build on the company’s existing achievements while prioritising improved customer service, stakeholder value and sustainable 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 underscores Ikeja Electric’s commitment to continuity, operational excellence and the delivery of reliable electricity services capable of improving customer experience, expanding energy access and supporting sustainable development.

He added that the new leadership alignment would enable the company to consolidate its achievements, reinforce stakeholder confidence and continue creating value for customers, employees, regulators, investors and host communities.