Edu Okeke will resume as managing director of Azura Power Ltd in the new year as David Ladipo calls time on an eight year stay at the helm.
Ladipo, under whose watch the company developed, built and commissioned the 461 MegaWatts Azura-Edo IPP, Nigeria’s first privately-financed independent power plant, had told investors in 2017 of a succession plan that will see him relieved by Okereke at the end of 2018, who at the time was deputy managing director.
“I have been tremendously proud of the performance exhibited by Edu and the rest of the management team this year. They’ve really outdone themselves,” Ladipo said in an email to BusinessDay.
Okeke takes up the mantle at a time when Nigeria turns to privately-financed independent power plants like the Azura IPP to help end decades of power shortages that have dogged businesses and households, as well as subdued economic growth in Africa’s most populous nation.
Okeke joined Azura in 2014 as its Chief Operating Officer before becoming Deputy Managing Director in 2016. Prior to joining Azura, Okeke headed the sub-saharan Power generation sales division of General Electric, having joined the American Conglomerate in 2008 as West Africa Regional manager. He also had stints at Lafarge, Schlumbeger and Guinness.
He holds a BSc in Electronic Engineering from the University of Nigeria, Nsukka and an MBA from Imperial College, London.
In preparation for Okeke’s promotion to MD, Azura broadened the composition of its senior management team by promoting Fela Somoye and Victor Agboh to senior manager status earlier in 2018.
The Azura-Edo IPP is a 461 MW gas-fired open-cycle power plant near Benin City, South of Nigeria, in Edo state. The facility comprises an open cycle gas turbine power station; a short transmission line connecting the power plant to a local substation; an 800m spur line that connects to the country’s main gas pipeline network; and a gas pressure reduction and metering station.
The construction of the facility was completed in a record 8 months ahead of schedule and became fully operational on 1 May 2018. During peak dispatch hours, the plant produces up to 10% of all the power on the Nigerian Grid.
LOLADE AKINMURELE
