A leadership shift is underway at Ikeja Electric as the organisation prepares for a new phase of operational focus and sector-wide expansion, with senior executive Mrs Ogochukwu Onyelucheya set to assume office as Acting Chief Executive Officer from July 1, 2026.
The development signals a planned transition within one of Nigeria’s largest electricity distribution companies, aimed at reinforcing leadership continuity while sharpening its drive toward improved service delivery, innovation, and efficiency across the power value chain.
According to a statement issued by the company’s Head of Corporate Communications, Kingsley Okotie, the change in leadership is part of a broader strategy to strengthen governance and accelerate performance improvements in a rapidly evolving energy landscape.
Soetan’s Six-Year Tenure and New Strategic Direction
Outgoing Chief Executive Officer Folake Soetan, who has led the company since 2020, is transitioning into a wider strategic role within Sahara’s energy portfolio, spanning both power and upstream operations.
Her tenure has been widely described within the organisation as a period of transformation, with emphasis on customer experience, operational resilience, and institutional strengthening.
Speaking on her impact, the Chairman of Ikeja Electric, Kola Adesina, 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 also noted that under her leadership, it recorded notable improvements in operational efficiency, strengthened stakeholder trust, and enhanced its positioning within Nigeria’s complex electricity distribution sector.
Reflecting on her new assignment, 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.”
Onyelucheya Takes Over with Focus on Innovation and Efficiency
The board expressed strong confidence in the incoming Acting CEO, describing her appointment as a continuation of a carefully structured leadership succession plan designed to sustain momentum and deepen performance gains.
In its assessment, the company highlighted Onyelucheya’s track record in driving organisational transformation, particularly through financial discipline, process optimisation, and digital innovation.
Kola Adesina noted:
“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.”
Profile and Expectations for the New Acting CEO
Mrs Onyelucheya is described as a seasoned corporate executive with over 20 years of experience spanning banking and the energy sector. Her expertise covers business strategy, financial management, and operational improvement, with a strong focus on large-scale transformation initiatives.
The company said she has consistently led turnaround programmes involving digitisation, automation, and revenue assurance systems aimed at strengthening financial performance and operational reliability.
Academically, she holds a Bachelor of Science degree in Accounting from Nnamdi Azikiwe University, a Master of Science degree in Finance and Financial Law from the University of London, and is also an alumna of Harvard Business School.
In her remarks following the announcement, Onyelucheya said:
“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.”
Transition Framed as Continuity and Sector Strengthening
The company emphasised that the leadership change reflects a deliberate effort to ensure continuity while reinforcing its long-term ambition of delivering reliable electricity services, expanding access, and supporting broader economic development.
It also reiterated that the transition positions the organisation to strengthen relationships with regulators, investors, employees, and communities while sustaining operational improvements already achieved.
According to the statement, the outgoing and incoming leadership arrangement underscores Ikeja Electric’s intent to maintain stability while adapting to the demands of Nigeria’s evolving power sector.