From Ikeja Electric to Arahas: Folake Soetan takes the helm as Managing Director

After years of driving sweeping operational turnarounds at Nigeria’s largest electricity distribution company, Folake Soetan has stepped into a massive new arena.

The former CEO of Ikeja Electric has transitioned to the helm of Arahas as Managing Director. She brings her signature blend of customer-centric innovation and execution discipline to Sahara Group’s broader power and upstream energy portfolio, signaling a major strategic push for the conglomerate across Africa.

In her new role, Soetan will lead the drive to embed Arahas’ core mantra of delivering high-impact, value-driven solutions to partners and stakeholders.

Her mandate reflects a broader strategic intent to strengthen Arahas as a globally competitive platform rooted in African expertise, engineering excellence, and operational reliability. It is also expected to accelerate Arahas’ ability to deliver efficient solutions that optimise production, extend asset life, and enhance operational certainty across the energy lifecycle.

Adedeji Odunsi, Executive Director, Sahara Group, said the development in Arahas, a Sahara Group Oilfield Services Company, reinforces the energy and infrastructure conglomerate’s dedication to making a difference in the energy sector through long-term vision and growth priorities. The appointment takes effect on July 1, 2026.

“Our focus is on building future-ready platforms anchored on strong leadership, clear strategy, and disciplined execution. Folake’s appointment reflects our commitment to empowering leaders who can translate ambition into measurable outcomes across our energy ecosystem,” he said.

Soetan’s appointment comes at a defining moment for Arahas, Sahara Group’s integrated oilfield services business, which is positioned to redefine how oilfield services are delivered across the value chain through a bold emphasis on innovation, operational efficiency, and sustainability.

Odunsi noted that beyond Arahas, Folake’s role will extend to expanded responsibilities within the Sahara Power Group, where she will leverage her extensive experience in the power sector – particularly her tenure as Chief Executive Officer of Ikeja Electric – to enhance performance frameworks, strengthen operational linkages, and support the delivery of reliable electricity solutions.

“This dual responsibility signals Sahara’s deliberate effort to create stronger integration across its upstream and power value chains, unlocking synergies that will enable a more cohesive, efficient, and sustainable approach to energy delivery across the continent,” he added.

Speaking on her appointment, Soetan expressed her enthusiasm for the role and the broader opportunity to contribute to Sahara’s evolving energy vision.

“Arahas represents a bold and timely opportunity to redefine how oilfield services are delivered across Africa, anchored on innovation, efficiency, and sustainability. I am excited to work with the team to build a high-performance platform that strengthens the integration of our Beyond XXX agenda and shape a more resilient energy landscape for the continent,” she said.

Soetan brings to this role a compelling blend of strategic leadership, operational depth, and transformation experience, shaped by years of leading complex businesses within Nigeria and Ghana’s energy sector. She had previously worked in the Midstream, Downstream, Power and Airline Sectors, and will now bring her wealth of experience to the Upstream Services sector.