Ikeja Electric (IE) has announced the appointment of Mrs. Ogochukwu Onyelucheya as its Acting Chief Executive Officer, effective July 1, 2026, following the transition of Mrs. Folake Soetan from the role after nearly six years at the helm.
The electricity distribution company disclosed that the leadership change is part of its strategy to strengthen corporate governance and position the organisation for sustained growth, innovation, and improved service delivery.
Soetan, who has served as Chief Executive Officer since 2020, will be taking on broader strategic responsibilities across Sahara Group’s Power and Upstream businesses, where she is expected to contribute to the company’s long-term energy development initiatives across Africa.
Chairman of Ikeja Electric, Kola Adesina, praised Soetan for her outstanding leadership, describing her tenure as transformative for the company.
According to him, she played a key role in repositioning Ikeja Electric into a more resilient, customer-focused, and performance-driven organisation.
“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,” Adesina said.
During her time as CEO, Soetan oversaw significant improvements in the company’s operational performance, strengthened stakeholder confidence, and advanced its position within Nigeria’s evolving electricity sector.
Reflecting on her journey, Soetan expressed gratitude for the opportunity to lead the company, describing the experience as a privilege.
“It has been an honour to lead Ikeja Electric alongside an exceptional team dedicated to delivering value to our 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 of Directors approved Onyelucheya’s appointment based on her extensive leadership experience, deep institutional knowledge, and strategic vision.
Adesina expressed confidence in her ability to build on the achievements of her predecessor while steering the company toward greater innovation and operational efficiency.
“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 stated.
Onyelucheya is a seasoned corporate executive and finance professional with more than two decades of experience spanning business strategy, financial management, operational growth, and organisational transformation.
Throughout her career, she has held senior leadership positions in both the banking and energy sectors, where she led initiatives in process automation, digital transformation, revenue assurance, and business turnaround strategies.
She earned a Bachelor of Science degree in Accounting from Nnamdi Azikiwe University and holds a Master’s degree in Finance and Financial Law from the University of London. She is also an alumna of Harvard Business School.
Reacting to her appointment, Onyelucheya thanked the Board for the confidence reposed in her and pledged to prioritise improved customer service and sustainable business performance.
“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 added that the seamless leadership transition underscores Ikeja Electric’s commitment to continuity, operational excellence, and reliable electricity distribution. He noted that the company remains focused on enhancing customer experience, expanding energy access, and contributing to Nigeria’s sustainable development goals.
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