In Nigeria’s high-stakes energy sector, where challenges loom large, one name shines brightly—Folake Soetan.
As CEO of Ikeja Electric, the country’s largest electricity distribution company, she’s not just keeping the lights on; she’s sparking innovation and rewriting the script for female leadership in a male-dominated industry.
When Soetan assumed the role of CEO in 2020, she brought with her an arsenal of experience spanning over two decades across various sectors, including banking and telecommunications.
This diverse background equipped her with the strategic insight and operational acumen needed to steer Ikeja Electric through a complex regulatory environment while prioritizing customer satisfaction and technological advancement.
“The energy sector is not for the faint-hearted,” Soetan remarks, reflecting on her journey. “It requires a blend of tenacity, vision, and an unwavering commitment to service delivery.”
Her ascent to the C-suite was not by chance but by design. Having previously served as the Chief Operating Officer of Ikeja Electric, Soetan had a front-row seat to the operational challenges facing the sector.
From reducing Aggregate Technical, Commercial, and Collection (ATC&C) losses to driving digital innovation, her leadership has been marked by bold decisions and transformative strategies.
One of her notable achievements includes spearheading initiatives aimed at improving operational efficiency through technology.
Under her leadership, Ikeja Electric has expanded the use of smart metering systems, which not only curbs energy theft but also enhances transparency in billing—a long-standing concern for Nigerian consumers.
“Innovation is non-negotiable if we are to meet the growing energy demands of our customers,” she asserts. “We are committed to leveraging technology to deliver smarter, safer, and more sustainable solutions.”
Soetan outside the boardroom is also passionate about empowering the next generation of female leaders. Through mentorship programs and corporate social responsibility initiatives, she is fostering a culture of inclusion and paving the way for more women to thrive in STEM fields.
Her leadership style is characterized by a blend of empathy and decisiveness.
Colleagues describe her as a visionary who leads by example, fostering a culture of accountability and continuous improvement.
For Soetan, the ultimate measure of success lies not just in financial performance but in the tangible impact on communities and the broader economy.
As she continues to chart new territories in the energy landscape, Folake Soetan remains a beacon of possibility.
Her journey underscores a powerful message—that African women are not only shaping industries but also driving sustainable change in ways that will be felt for generations to come.
“I believe in the power of purpose-driven leadership,” “When you align your work with a greater mission, the possibilities are endless.”
