Nigeria’s electricity distribution sector has entered another defining chapter as Ikeja Electric appoints Ogochukwu Onyelucheya as its Acting Chief Executive Officer, effective July 1, 2026. More than a routine leadership transition, the appointment signals the company’s determination to accelerate operational excellence, strengthen customer experience and sustain the transformation that has redefined one of Nigeria’s largest electricity distribution companies over the past several years.
The announcement comes as Folake Soetan concludes a landmark tenure as Chief Executive Officer, having steered Ikeja Electric through one of the most demanding periods in Nigeria’s power sector. Since assuming office in 2020, Soetan has become synonymous with a leadership approach centred on resilience, customer focus and operational discipline, helping reposition the company amid regulatory reforms, infrastructure challenges and rising customer expectations.
Chairman of Ikeja Electric, Kola Adesina, described Soetan’s leadership as nothing short of transformational, crediting her with building a stronger and more performance-driven organisation capable of navigating the complexities of Nigeria’s evolving electricity market.
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“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,” Adesina said.
Under her leadership, the company recorded significant improvements in operational performance, strengthened relationships with key stakeholders and laid a foundation for sustainable growth. Those achievements have not only reinforced Ikeja Electric’s market position but have also enhanced confidence among regulators, investors, employees and customers at a time when the Nigerian power sector continues to undergo far-reaching reforms.
As Soetan transitions into broader strategic responsibilities across Sahara Group’s Power and Upstream businesses, she reflected on her time at the company with gratitude while expressing optimism about contributing to Africa’s wider energy future.
“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,” she said.
Stepping into the leadership role is Mrs. Ogochukwu Onyelucheya, an accomplished corporate executive whose appointment reflects the company’s emphasis on continuity while preparing for its next phase of innovation and growth. The Board expressed confidence in her extensive institutional knowledge, strategic insight and proven ability to execute large-scale business transformation initiatives.
According to Adesina, Onyelucheya possesses the leadership qualities required to consolidate the gains already achieved while positioning the organisation for even greater success.
“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.”
Her appointment reflects a career spanning more than two decades across the banking and energy sectors, where she has built a reputation for driving strategic business growth, strengthening financial performance and leading enterprise-wide transformation programmes.
Throughout her career, Onyelucheya has championed process digitisation, automation and the implementation of advanced revenue assurance systems aimed at improving operational efficiency. Her approach has consistently focused on eliminating structural inefficiencies, reducing revenue leakages and redesigning business processes to enhance organisational performance.
Her academic credentials reinforce that profile. 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 an alumnus of Harvard Business School.
Accepting the appointment, Onyelucheya reaffirmed her commitment to sustaining the company’s progress while placing customers and operational excellence at the centre of its future strategy.
“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.”
The leadership transition comes at a pivotal moment for Nigeria’s electricity industry, where distribution companies are under increasing pressure to improve service delivery, embrace digital innovation and strengthen financial sustainability. For Ikeja Electric, the succession plan represents not just continuity but an opportunity to accelerate reforms that improve reliability, expand energy access and deliver greater value across its customer base.
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Adesina noted that the transition reflects the Board’s commitment to ensuring leadership continuity while maintaining the company’s momentum. He said the new executive alignment positions Ikeja Electric to reinforce stakeholder confidence, sustain operational excellence and continue creating long-term value for customers, employees, regulators, investors and host communities.
As Nigeria’s power sector evolves, Ikeja Electric’s latest leadership change illustrates a broader trend across the industry: the growing importance of executives who combine financial discipline, digital transformation expertise and customer-centric leadership. With Onyelucheya assuming the helm and Soetan advancing to broader strategic responsibilities within Sahara Group, the company is positioning itself to write the next chapter of its transformation story while contributing to the future of reliable and sustainable energy delivery in Nigeria.
