A new phase has opened at Ibadan Electricity Distribution Company (IBEDC) as incoming core investors unveil plans to inject fresh capital, overhaul infrastructure, and elevate customer service across the utility’s franchise network.
The commitment followed a reconstituted Board of Directors’ meeting in Ibadan on Tuesday, February 24, 2026, coming on the heels of the resignation of three nominees of the Asset Management Corporation of Nigeria (AMCON).
Board Chairman Tunde J. Afolabi described the transition as a strategic reset designed to stabilize operations and accelerate long-term growth.
He said the entry of a new core investor and the inauguration of a refreshed board signal a deliberate shift toward stronger governance, deeper capital deployment, and measurable service improvement.
According to Afolabi, the company’s immediate priorities include rehabilitation and expansion of power feeders, large-scale transformer upgrades, modernization of injection substations, and replacement of ageing network components.
He added that IBEDC will fast-track digital transformation initiatives to enhance outage management, improve billing accuracy, expand smart metering, and strengthen customer engagement platforms.
IBEDC, created in November 2013 after Nigeria’s power sector privatization, distributes electricity across Ogun, Oyo, Osun and Kwara states, and parts of Ekiti, Kogi and Niger.
The company operates one of the country’s most extensive distribution networks and serves a vast customer base across its coverage areas.
Reassuring consumers, the board said the leadership change will not trigger avoidable disruptions. All offices will remain open, while technical and field operations are to continue without interruption.
On workforce matters, the chairman affirmed that the transition is not linked to job losses. Instead, management pledged improved work tools, upgraded safety equipment, and technology support to boost field efficiency and staff productivity.
The board also underscored its intention to maintain close collaboration with regulators, including the Nigerian Electricity Regulatory Commission (NERC) and the Nigerian Electricity Management Services Agency (NEMSA), to ensure compliance, transparency, and operational accountability.
Members of the newly constituted board include Ayodeji Ariyo Gbeleyi, Dr. Taiwo Afolabi, Prof. Oladapo Afolabi, Tunde Fayinka, Oluwaseyi Akinwale, and Adeolu Ijose, among others.
IBEDC said the renewed corporate structure will strengthen financial sustainability, guarantee structured payment cycles for vendors, and position the company to pursue industry leadership in Nigeria’s electricity distribution sector.
