Ibadan Electricity Distribution Company Announces New Board and Welcomes Core Investor to Strengthen Power Infrastructure Across Nigeria

Ibadan Electricity Distribution Company (IBEDC) has entered a new chapter in its corporate journey.

The company has officially reconstituted its Board of Directors after three representatives from the Asset Management Corporation of Nigeria (AMCON) stepped down.

This change marks a strategic governance shift and the onboarding of a new core investor, signaling fresh investment and renewed focus for Nigeria’s power distribution sector.

The announcement came from the company’s head office in Ibadan, with the newly appointed Chairman, Tunde J. Afolabi, describing the development as a “turning point” anchored on stability, continuity, and long-term growth.

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Meet the New Leadership Team

The reconstituted Board is led by Chairman Tunde J. Afolabi and includes a diverse mix of experienced executives.

Key members are Ayodeji Ariyo Gbeleyi, Michael I.

Magaji as Alternate Director, alongside Taiwo Afolabi, Oladapo Afolabi, Tunde Fayinka, Oluwaseyi Akinwale, and Adeolu Ijose.

Chairman Afolabi emphasized that the transition is about renewal, not disruption.

He outlined immediate priorities for the Board, including strengthening corporate governance, enhancing operational performance, deepening capital investment, and delivering measurable service improvements across IBEDC’s service areas.

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IBEDC’s Strategic Footprint Across Nigeria

Since its inception in November 2013, following the privatization of Nigeria’s power sector, IBEDC has become one of the largest electricity distribution companies in the country.

Its network spans Ogun, Oyo, Osun, and Kwara states, with additional coverage in parts of Ekiti, Kogi, and Niger states.

The company serves the highest number of customers within Nigeria’s distribution landscape, positioning it as a critical player in ensuring electricity access nationwide.

The company reassured customers that this leadership change will not affect service delivery.

All offices remain operational, and field activities continue without interruption.

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Capital Investments and Technological Upgrades

The new investor has committed to injecting significant capital into IBEDC’s operations. Key projects include:

• Feeder rehabilitation and network expansion

• Transformer upgrades and replacements

• Injection substation improvements

• Replacement of outdated network components

Additionally, the company plans to accelerate digital transformation with advanced outage management systems, upgraded billing platforms, expanded smart meter deployment, and enhanced customer engagement channels.

These initiatives aim to improve reliability, reduce downtime, and provide customers with more transparency and control over their electricity usage.

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Commitment to Employees and Vendors

Addressing workforce concerns, the Board confirmed that no job losses will result from the transition.

Employee welfare remains a priority, with investments in modern safety equipment, improved work tools, and technology upgrades to boost efficiency and operational performance.

IBEDC also reaffirmed its commitment to structured, timely payment cycles for vendors and suppliers, recognizing their role in sustaining network stability and operational continuity.

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Regulatory Engagement and Governance

The Board emphasized structured collaboration with regulatory bodies, including the Nigerian Electricity Regulatory Commission (NERC) and the Nigerian Electricity Management Services Agency (NEMSA).

Transparency, compliance, and strengthened governance frameworks are core elements of the company’s strategic plan moving forward.

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What’s Next?

IBEDC is now positioned to deepen operational excellence and strengthen financial sustainability.

The company plans to roll out infrastructure upgrades and digital solutions over the next few years, aiming to reinforce its leadership in Nigeria’s electricity distribution sector.

Customers can expect more reliable service, faster response times during outages, and expanded digital access for billing and support.

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Summary

By NICK ALLEN, Energy & Business Reporter

IBEDC has reconstituted its Board following the resignation of three AMCON nominees, welcoming new leadership and a core investor.

The company is prioritizing operational improvements, capital investments, technological upgrades, and workforce welfare, all while maintaining uninterrupted service.

Regulatory compliance and structured engagement with vendors remain central to its strategy.

With these changes, IBEDC is focused on enhancing financial stability, reinforcing governance, and leading Nigeria’s power distribution sector into the next decade.