Oredola Adeola
Ikeja Electric has announced the appointment of Mrs. Ogochukwu Onyelucheya as Acting Chief Executive Officer, effective July 1, 2026, following the transition of Mrs. Folake Soetan to broader strategic roles across Sahara’s power and upstream businesses.
Kingsley Okotie, Head, Corporate Communications, Ikeja Electric Plc, made this known in a statement obtained by Advisors Reports on Saturday.
Mr. Kola Adesina, Chairman of Ikeja Electric, commenting on the development, praised Soetan’s transformational leadership and enduring impact on the 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 added, “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,” the Chairman said.
Adesina emphasized that the leadership transition reflects Ikeja Electric’s commitment to continuity, operational excellence, and delivering reliable energy solutions that improve customer experience, expand energy access, and support sustainable development.
Reflecting on her time as CEO, Folake Soetan said, “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,” the outgoing CEO said.
Speaking on her appointment, Ogochukwu Onyelucheya expressed gratitude for the opportunity and reaffirmed her commitment to the company’s mission.
“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,” Mrs Onyelucheya said.
Okotie, in the statement, noted that Mrs. Soetan, who has served as Chief Executive Officer since 2020, will now assume broader strategic responsibilities across the energy sector.
He revealed that during her tenure, the outgoing CEO drove significant improvements in operational performance, strengthened stakeholder confidence, and positioned the company for sustainable growth within Nigeria’s evolving electricity landscape.
Speaking on the Board’s approval of Mrs. Onyelucheya’s appointment, Okotie said the decision reflects strong confidence in her proven leadership capabilities and strategic vision.
“Widely recognised for driving organisational transformation and sustainable performance, she brings extensive institutional knowledge, and a strong execution focus to steer the company through its next phase of growth.
“Mrs. Onyelucheya is a seasoned corporate executive and financial leader with over two decades of experience spanning the banking and energy sectors, with a track record in business strategy, financial control, and operational growth.
“She has led large-scale turnarounds through process digitisation, automation, and the deployment of robust revenue assurance systems, leveraging strong analytical and strategic capabilities to eliminate inefficiencies and optimise performance.
“She holds a bachelor’s degree in accounting from Nnamdi Azikiwe University and a master’s degree in finance and financial law from the University of London, and is also an alumnus of Harvard Business School,” Okotie said.
The Head, Corporate Communications, Ikeja Electric Plc, therefore noted that with the leadership alignment, Ikeja Electric is well-positioned to consolidate its achievements, strengthen stakeholder confidence, and continue delivering value to customers, regulators, investors, and the communities it serves.
