Ikeja Electric appoints Ogochukwu Onyelucheya acting CEO

Ikeja Electric has appointed Ogochukwu Onyelucheya as its Acting Chief Executive Officer, effective July 1, 2026, following the transition of Folake Soetan to a broader leadership role within the Sahara Group.

The appointment marks a new leadership phase for Nigeria’s largest electricity distribution company by customer base, as it seeks to strengthen operational performance, improve customer experience and drive innovation in the country’s evolving electricity market.

Announcing the appointment, Kola Adesina, Ikeja Electric Chairman, praised Soetan’s leadership, describing her tenure as transformative.

“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,” he said.

The company said Soetan, who has served as CEO since 2020, strengthened operational performance, enhanced stakeholder confidence and repositioned the utility for sustainable growth.

Reflecting on her tenure, Soetan said it had been a privilege leading the organisation.

“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.

The Board expressed confidence that Onyelucheya possesses the leadership, strategic vision and institutional knowledge required to guide the company through its next growth phase.

“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,” Adesina added.

Before her appointment, Onyelucheya built a career spanning more than two decades across the banking and energy sectors, specialising in corporate strategy, financial management and business transformation.

According to the company, she has led large-scale transformation programmes focused on process automation, digitalisation and revenue assurance while driving operational efficiency and reducing business leakages.

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.

Speaking on her appointment, Onyelucheya said the company would continue building on its recent achievements.

“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.