Nigeria’s largest electricity distribution company by customer base, Ikeja Electric, has appointed Ogochukwu Onyelucheya as its Acting Chief Executive Officer, effective July 1, 2026, as the utility positions itself for its next phase of operational growth and transformation.
The appointment follows the transition of outgoing Chief Executive Officer Folake Soetan, who has led the company since 2020 and will assume broader strategic responsibilities across the power and upstream businesses of the Sahara Group.
Announcing the leadership change, Chairman of Ikeja Electric, Kola Adesina, credited Soetan with strengthening the company’s operational performance and customer-focused strategy during a period of significant reforms in Nigeria’s electricity sector.
“Folake has been instrumental in transforming Ikeja Electric into a more resilient, customer-focused and performance-driven organisation,” Adesina said. “Her leadership has helped position the company for sustainable growth.”
During her six-year tenure, Soetan oversaw initiatives aimed at improving operational efficiency, enhancing customer service and strengthening stakeholder confidence as Nigeria’s electricity distribution companies navigated regulatory reforms, infrastructure challenges and evolving market conditions.
Commenting on her transition, Soetan said it had been a privilege to lead the company and expressed confidence in its future direction.
“It has been an honour to lead Ikeja Electric and work alongside a team committed to delivering value to customers and communities,” she said. “As I take on a new role across Sahara’s Power and Upstream businesses, I look forward to supporting the Group’s vision of delivering sustainable and impactful energy solutions across Africa.”
The Board said Onyelucheya’s appointment reflects its strategy of ensuring leadership continuity while advancing the company’s operational and digital transformation agenda.
Adesina said the new acting CEO brings extensive experience in corporate leadership, finance and business transformation.
“Ogochukwu combines strategic leadership with strong execution capabilities,” he said. “We are confident in her ability to build on the solid foundation established at Ikeja Electric while driving innovation, operational efficiency and customer-focused growth.”
Onyelucheya has more than two decades of experience across Nigeria’s banking and energy sectors, where she has led financial management, business strategy and operational improvement initiatives. Her expertise includes process automation, digital transformation, revenue assurance and organisational restructuring.
She holds a bachelor’s degree in Accounting from Nnamdi Azikiwe University, a master’s degree in Finance and Financial Law from the University of London, and has completed executive education at Harvard Business School.
Speaking on her appointment, Onyelucheya said her immediate priorities would include improving customer service, strengthening operational performance and creating sustainable value for stakeholders.
“It is a privilege to build on the strong foundation at Ikeja Electric,” she said. “Our focus remains on delivering improved service, deepening customer trust and driving sustainable performance as we continue creating value for all stakeholders.”
The leadership transition comes as Nigeria’s electricity distribution companies continue to pursue operational improvements, network investments and digital innovations aimed at enhancing service delivery while supporting the country’s broader power sector reforms.
Ikeja Electric said the transition underscores its commitment to leadership continuity, operational excellence and delivering reliable electricity services to customers, regulators, investors and the communities it serves.
