Ikeja Electric Restructures Leadership To Expand Energy Development

Ikeja Electric has embarked on a management realignment to boost operational efficiency and a more dedicated approach in energy distribution across its network.

The energy distribution utility company announced the appointment of Ogochukwu Onyelucheya as its acting chief executive officer, effective 1 July 2026.

The new chief executive will assist the company in strengthening its leadership to accelerate growth, innovation, and service excellence across the power sector value chain.

The appointment follows the transition of Folake Soetan, who has served as chief executive officer since 2020 and will be taking on broader strategic responsibilities across the energy sector.

Commenting on the development, the chairman of Ikeja Electric, Kola Adesina, commended Soetan’s transformational leadership and enduring impact on the 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.”

During her tenure, Soetan led significant improvements in operational performance, strengthened stakeholder confidence, and positioned Ikeja Electric for sustainable growth within Nigeria’s evolving electricity landscape.

Reflecting on her time as CEO, Folake 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.”

In approving Ogochukwu’s appointment, the Board reaffirmed its confidence in her proven leadership capabilities and strategic vision. Widely recognised for driving organisational transformation and sustainable performance, she brings extensive institutional knowledge and a strong focus on execution that will guide the company through its next phase of growth.

Adesina added: “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 Ogochukwu is a senior corporate executive and financial leader with over twenty years of experience overseeing business strategy, financial control, and operational growth.

Throughout her career, which spans senior roles in both the banking and energy sectors, she has specialised in leading large-scale turnarounds by focusing on process digitisation, automation, and the deployment of robust revenue assurance systems. Combining great analytical skills with strategic oversight, she excels at identifying structural inefficiencies, eliminating operational leaks, and streamlining workflows to maximise bottom-line results.

She holds a BSc in Accounting from Nnamdi Azikiwe University and an MSc in Finance and Financial Law from the University of London. She is an alumnus of the Harvard Business School

Speaking on her appointment, Ogochukwu Onyelucheya expressed gratitude for the opportunity and reaffirmed her commitment to the company’s mission.

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

With this leadership alignment, Ikeja Electric is well-positioned to build on its achievements, strengthen stakeholder confidence, and continue delivering value to customers, employees, regulators, investors, and the communities it serves.