Leadership transition takes effect July 1 as power firm doubles down on innovation and customer service
The leading Electric distribution company in Nigeria, Ikeja Electric Plc has announced a leadership transition to drive its next phase of growth, appointing Mrs. Ogochukwu Onyelucheya as Acting Chief Executive Officer effective July 1, 2026.
The appointment comes as Mrs. Folake Soetan, who has led the company since 2020, moves into broader strategic responsibilities across Sahara Group’s Power and Upstream businesses.
Under Soetan’s five-year tenure, Ikeja Electric overhauled its operations, improved service delivery, and strengthened stakeholder confidence. The company positioned itself for sustainable growth amid Nigeria’s evolving electricity sector.
Kola Adesina, Chairman of Ikeja Electric, praised her impact:
“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.”
Reflecting on her time at the helm, 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 approved Onyelucheya’s appointment, citing her proven track record in organisational transformation, strategic vision, and execution discipline.
With over 20 years of experience in banking and energy, Onyelucheya has specialised in large-scale turnarounds through process digitisation, automation, and revenue assurance systems. She is known for identifying structural inefficiencies and streamlining workflows to improve bottom-line results.
A BSc Accounting graduate of Nnamdi Azikiwe University and MSc Finance & Financial Law holder from the University of London, she is also an alumnus of Harvard Business School.
Adesina expressed confidence in her leadership:
“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.”
In her remarks, Onyelucheya said she is honoured to build on the foundation laid by her predecessor:
“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.”
Ikeja Electric said the transition reflects its commitment to continuity, operational excellence, and delivering reliable energy solutions that improve customer experience, expand access, and support sustainable development.
With the leadership alignment, the company says it is well-positioned to strengthen stakeholder confidence and continue delivering value to customers, employees, regulators, investors, and communities.
