For decades, Nigeria’s electricity distribution was plagued by erratic supply, leaving its citizens with a mere six hours of power each day. This unreliable service became a daily struggle for millions, shaping the daily lives and businesses of a nation. But a transformative shift began with the arrival of Folake Soetan as CEO of Ikeja Electric. Her leadership marked a turning point, as her visionary Bilateral Power initiative dramatically altered the landscape of power distribution. Under her stewardship, the initiative now delivers up to 20 hours of reliable electricity through the National Grid, defying long-standing challenges.
Her career began in 2001 with British Airways, where she quickly distinguished herself. Moving on to Virgin Nigeria Airways and Sahara Group, Soetan made significant contributions in sales and market expansion, setting the stage for her future achievements. In 2015, Soetan joined Ikeja Electric as Deputy Chief Commercial Officer. Her ascent to CEO in March 2020 was marked by groundbreaking accomplishments. Under her guidance, the company reduced power distribution losses from over 41% to an impressive 24.9% and achieved ISO9001 & OHSAS18001 certifications, setting new standards for safety and quality management.
Soetan’s influence extends beyond her professional achievements. She is a dedicated mentor, guiding young men and women in the power and oil & gas sectors and promoting the growth of women in STEM through her role on the Board of Women in Energy Network (WIEN). Her educational background, including a degree in Banking and Finance from the University of Lagos and Advanced Management Certification from Harvard Business School, further underscores her commitment to excellence.
