Nigerian power firm Ikeja Electric has named Mrs Ogochukwu Onyelucheya as its new Acting Chief Executive Officer, with the appointment taking effect from 1 July 2026. The leadership change comes as the company seeks to accelerate operational growth, technological innovation and service delivery across the domestic electricity value chain.
The transition follows the departure of Mrs Folake Soetan, who has led the electricity distribution company as CEO since 2020. Soetan is moving on to take up broader strategic responsibilities across Sahara Group’s power and upstream energy divisions.
Commenting on her departure, Kola Adesina, Chairman of Ikeja Electric, praised Soetan’s transformational leadership and enduring impact on the organisation. He stated: “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.” During her six years at the helm, Soetan oversaw substantial improvements in the firm’s operational capabilities, boosting stakeholder confidence within Nigeria’s shifting power landscape.
Reflecting on her tenure, 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 board expressed absolute confidence in the corporate capabilities of Onyelucheya, who has more than 20 years of experience managing business strategy, operational scaling and financial control. Her professional career spans senior leadership roles across both the banking and energy sectors. She has previously specialised in corporate turnarounds, process digitisation, business automation and the implementation of robust revenue assurance systems designed to eliminate structural inefficiencies.
Onyelucheya holds a BSc under the accounting faculty at Nnamdi Azikiwe University alongside an MSc in Finance and Financial Law from the University of London. She is also an alumnus of Harvard Business School.
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.”
Speaking on her appointment, Ogochukwu Onyelucheya expressed gratitude for the opportunity and reaffirmed her commitment to the company’s mission. She stated: “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.”
