IBADAN, Nigeria — The Ibadan Electricity Distribution Company (IBEDC) has unveiled a strategic overhaul of its leadership and ownership structure, including the appointment of a new core investor and a restructured Board of Directors. The move is aimed at strengthening governance, attracting fresh capital, and enhancing electricity service delivery across its franchise areas.
Leadership Reshuffle Marks Major Milestone
Announced at IBEDC’s corporate headquarters in Ibadan, the changes follow the exit of three nominees from the Asset Management Corporation of Nigeria. Newly appointed Chairman, Chief Tunde Afolabi, described the transition as a pivotal step for long-term stability and growth.
Other board members include Mr. Ayodeji Ariyo Gbeleyi (with Mr. Michael I. Magaji as Alternate Director), Dr. Taiwo Afolabi MON, CON, Prof. Oladapo Afolabi OON, CFR, Mr. Tunde Fayinka, Mr. Oluwaseyi Akinwale, and Mr. Adeolu Ijose.
Chief Afolabi emphasized:
“This transition represents renewal, not rupture. It represents investment, not instability. It represents partnership, not division. Our goal is to strengthen governance, enhance operational performance, deepen capital investment, and deliver improved service to customers across our franchise areas.”
Commitment to Service Continuity and Infrastructure Upgrade
Assuring customers of uninterrupted operations, Chief Afolabi confirmed all IBEDC offices remain open and field services are ongoing.
The new core investor has pledged capital injections for feeder rehabilitation, transformer upgrades, substation improvements, and systematic replacement of aging network components. These upgrades are expected to improve supply reliability, reduce technical losses, and modernize IBEDC’s electricity infrastructure.
Digital Transformation and Workforce Support
IBEDC plans to accelerate digitalisation with upgraded outage management systems, enhanced billing platforms, expanded smart meter deployment, and digitized customer engagement channels to improve transparency and responsiveness.
Addressing staff concerns, Chief Afolabi assured that no job losses would result from the restructuring. The Board will continue investing in employee welfare, modern tools, safety equipment, and technology to boost operational efficiency.
Regulatory Compliance and Regional Impact
IBEDC reaffirmed its adherence to the Nigerian Electricity Regulatory Commission and the Nigerian Electricity Management Services Agency, alongside commitments to timely vendor and supplier payments critical to service delivery.
Established in November 2013 following Nigeria’s power sector privatisation, IBEDC serves Ogun, Oyo, Osun, Kwara, and parts of Ekiti, Kogi, and Niger States.
“Our focus is clear. We are committed to powering progress across our franchise areas with unity, confidence, and innovation,” Afolabi concluded.
With this board restructuring and new investor partnership, IBEDC is poised to consolidate operational excellence, strengthen financial sustainability, and enhance its role as a leading electricity distributor in Nigeria.
