Ikeja Electric Appoints Ogochukwu Onyelucheya as Acting CEO, Signals New Growth Phase

 Ikeja Electric Appoints Ogochukwu Onyelucheya as Acting CEO, Signals New Growth Phase

LAGOS, Nigeria — Ikeja Electric (IE) has announced the appointment of Mrs. Ogochukwu Onyelucheya as Acting Chief Executive Officer, effective July 1, 2026, marking a strategic leadership transition aimed at accelerating growth, innovation, operational efficiency, and customer service delivery across the company's operations.

The appointment follows the transition of Mrs. Folake Soetan, who has led the electricity distribution company since 2020 and will now assume broader strategic responsibilities within the energy sector.

Announcing the development, Chairman of Ikeja Electric, Mr. Kola Adesina, commended Soetan for her transformational leadership and contributions to the organization's growth over the past six years.

According to Adesina, Soetan played a pivotal role in repositioning the company as a resilient, customer-focused, and performance-driven electricity distribution firm.

“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.

During her tenure, Soetan oversaw significant improvements in operational performance, strengthened stakeholder confidence, and advanced the company's long-term growth strategy within Nigeria's evolving electricity market.

Reflecting on her stewardship of the company, Soetan described her time as CEO as a privilege and expressed confidence in the future of 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 stated.

The Board of Directors said Onyelucheya's appointment reflects its confidence in her leadership capabilities, strategic vision, and extensive experience in driving organisational transformation and sustainable business performance.

Adesina noted that the incoming Acting CEO brings a strong combination of leadership expertise, institutional knowledge, and execution discipline necessary to guide the company through its next stage of growth.

“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 added.

With more than two decades of professional experience spanning the banking and energy sectors, Onyelucheya is recognised for leading large-scale business transformation initiatives through process digitisation, automation, revenue assurance systems, and operational efficiency improvements.

She holds a Bachelor's degree in Accounting from Nnamdi Azikiwe University and a Master's degree in Finance and Financial Law from University of London. She is also an alumnus of Harvard Business School.

Speaking on her appointment, Onyelucheya expressed appreciation to the Board and reaffirmed her commitment to sustaining the company's growth trajectory and strengthening customer confidence.

“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 emphasized that the leadership transition underscores Ikeja Electric's commitment to continuity, operational excellence, and the delivery of reliable electricity services that enhance customer experience, expand energy access, and support sustainable development.

With the new leadership structure in place, the company said it 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.