Ikeja Electric appoints Onyelucheya as Acting CEO

Ikeja Electric (IE) has announced the appointment of Mrs Ogochukwu Onyelucheya as its Acting Chief Executive Officer, effective 1 July 2026. The utility said the appointment is in line with its vision of strengthening its leadership to accelerate growth, innovation, and service excellence across the power sector value chain.

In a statement signed by IE’s Head, Corporate Communications, Kingsley Okotie, the appointment of Onyelucheya follows the transition of its outgoing CEO, Mrs Folake Soetan, who has being in the saddle since 2020, but now transiting to taking on broader strategic responsibilities across the energy sector.

Commenting on the development, Chairman of Ikeja Electric, Kola Adesina, 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.”

He added that while in office, Soetan led significant improvements in operational performance, strengthened stakeholder confidence, and positioned Ikeja Electric for sustainable growth within Nigeria’s evolving electricity landscape.

Reflecting on her time as CEO, the outgoing CEO 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.”

In approving Ogochukwu’s appointment, the Board reaffirmed its 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 that will guide the company through its next phase of growth.

According to Adesina, “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, 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.”

Onyelucheya is a senior corporate executive and financial leader with over 20 years of experience overseeing business strategy, financial control, and operational growth. With a career which spans senior roles in both the banking and energy sectors, she has specialised in leading large-scale turnarounds by focusing on process digitisation, automation, and the deployment of robust revenue assurance systems.

“She combines great analytical skills with strategic oversight, she excels at identifying structural inefficiencies, eliminating operational leaks, and streamlining workflows to maximize bottom-line results,” the statement signed by Okotie said.

She holds a BSc in Accounting from Nnamdi Azikiwe University, an MSc in Finance and Financial Law from the University of London. She is an alumnus of the Harvard Business School.