Ikeja Electric has announced the appointment of Mrs Ogochukwu Onyelucheya as its Acting Chief Executive Officer, with effect from July 1, 2026, following the transition of the current CEO, Mrs Folake Soetan, to a broader strategic role within Sahara Group’s power and upstream businesses.
The electricity distribution company disclosed the development in a statement issued on Saturday by its Head of Corporate Communications, Kingsley Okotie, describing the leadership transition as part of efforts to strengthen the company’s leadership and drive growth, innovation and service excellence across the energy value chain.
According to the company, Soetan will assume expanded strategic responsibilities after steering Ikeja Electric through a period of transformation since becoming chief executive officer in 2020.
Chairman of Ikeja Electric, Kola Adesina, praised Soetan’s contributions, saying her leadership helped reposition the company as a stronger, more customer-focused and performance-driven electricity distributor.
“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.
The company credited Soetan with improving operational performance, strengthening stakeholder confidence and laying the foundation for sustainable growth amid Nigeria’s evolving electricity market.
Reflecting on her time at the helm, Soetan described leading the company as a privilege and expressed optimism about her new responsibilities.
“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.
Onyelucheya’s appointment, according to the board, underscores its confidence in her leadership, strategic vision and proven ability to drive organisational transformation and long-term business performance.
Adesina said the incoming acting chief executive possesses the experience required to build on the company’s achievements.
“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,” he stated.
The company said Onyelucheya has over two decades of experience in business strategy, financial management and operational growth across the banking and energy sectors.
She has led major business transformation initiatives through process digitisation, automation and the deployment of revenue assurance systems aimed at improving operational efficiency and financial performance.
Onyelucheya 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.
Speaking on her appointment, Onyelucheya pledged to build on the company’s existing achievements by improving service delivery, strengthening customer confidence and sustaining operational excellence.
“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,” she said.
Adesina added that the leadership transition reflects Ikeja Electric’s commitment to continuity, operational excellence and delivering reliable electricity services that enhance customer experience, expand energy access and support sustainable development.
He expressed confidence that the company would continue to strengthen stakeholder confidence while creating value for customers, employees, regulators, investors and host communities.
