Oredola Adeola
The Board of Ibadan Electricity Distribution Company (IBEDC) has terminated the contract of Engr. Kingsley Achife, the current Managing Director, and appointed Engr. Francis Agoha as the new Acting Managing Director.
This was confirmed in an exclusive document obtained by Advisors Reports on Friday.
The Board, in the statement, expressed gratitude to Engr. Achife for his contributions to the company’s growth and for laying the foundations for the ongoing turnaround within the company’s network areas.
Advisors Reports gathered that Engr. Agoha, being the most senior executive of the company, has assumed leadership responsibilities with immediate effect and will work closely with the Board to ensure a smooth transition.
The IBEDC Board therefore restated its commitment to delivering reliable electricity services to the company’s customers and stakeholders.
It also expressed confident that the change in leadership will accelerate IBEDC’s journey towards sustainable growth, improved performance, and a successful transition.
Despite the optimism expressed by the Board, IBEDC faces significant challenges, including aging infrastructure, high levels of energy theft, and low revenue collection rates.
Francis Agoha, the newly appointed Acting Managing Director at IBEDC previously served as the Chief Technical Officer at the company.
His extensive background includes proficiency in power generation, distribution, power plant management, operations and maintenance, business development, and the management of rotating machinery and various power systems equipment.
Agoha’s academic qualifications include a Bachelor of Science degree in Power Systems Engineering from the Federal University of Technology, Owerri, Imo State, Nigeria.
Prior to his employment at IBEDC, Engr. Agoha held key positions at reputable organizations such as General Electric International Operations Nigeria, Transcorp Power Limited, Sahara Power Group, and most recently, West Power & Gas, the owners of Eko Electricity Distribution Company (EKEDC), where he served as the General Manager of Technical Services.
He is a distinguished Corporate Member of the Nigeria Society of Engineers, the Nigeria Institute of Power Engineers, and the Council for the Regulation of Engineering in Nigeria (COREN).
It is therefore expected that the new IBEDC under the leadership of Agoha, will focus on addressing these issues head-on to ensure the company’s long-term success.
