The Ibadan Electricity Distribution Company (IBEDC) has reconstituted its board for optimal performance.

The development follows the emergence of a new core investor after the resignation of three nominees of the Asset Management Corporation of Nigeria (AMCON), as well as a decisive shift towards stronger governance, fresh capital investment, and improved service delivery across its franchise areas.

The new board was unveiled at a press conference held at the company’s corporate head office in Ibadan on Tuesday.

The newly appointed Chairman, Chief Tunde Afolabi, described the transition as a critical milestone in the company’s corporate journey and a foundation for long-term stability and growth.

Other members are 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.

Addressing stakeholders, Chief Afolabi said the entry of the new core investor and the refreshed board structure represented continuity rather than disruption.

“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.”

Seeking to allay concerns, the Chairman assured customers that the corporate transition would not result in avoidable service interruptions.

He confirmed that all IBEDC offices would remain open and that field and technical operations would continue without disruption.

According to him, the new core investor has committed to sustained capital injections aimed at feeder rehabilitation and expansion, transformer upgrades and replacements, injection substation improvements, and the systematic replacement of obsolete network components.

He noted that the investment programme is expected to strengthen infrastructure reliability, reduce technical losses, and improve supply stability across the company’s coverage areas.

The new management also outlined plans to accelerate the integration of advanced digital and operational technologies beyond network reinforcement.

These, he said, include enhanced outage management systems, strengthened billing platforms, expanded deployment of smart meters, and digitised customer engagement channels intended to improve transparency, accountability, and responsiveness.

On workforce stability, Chief Afolabi emphasised that there would be no job losses arising directly from the transition. He reiterated the board’s commitment to employee welfare through improved work tools, modern safety equipment, and technology upgrades to enhance operational efficiency while maintaining high performance standards.

The company further pledged proactive and structured engagement with industry regulators, including the Nigerian Electricity Regulatory Commission (NERC) and the Nigerian Electricity Management Services Agency (NEMSA), underscoring its commitment to regulatory compliance, strengthened governance frameworks, and corporate transparency.

IBEDC also reaffirmed its commitment to maintaining structured and timely payment cycles for vendors and suppliers, acknowledging their critical role in sustaining network operations and service delivery.

The company said that with the new board firmly in place, it is poised to consolidate operational excellence, strengthen financial sustainability, and reposition itself on the path to becoming Nigeria’s leading electricity distribution company.

“Our focus is clear. We are committed to powering progress across our franchise areas with unity, confidence, and innovation,” Afolabi said.

Established in November 2013 following Nigeria’s power sector privatisation, IBEDC is licensed to distribute electricity across Ogun, Oyo, Osun, and Kwara states, as well as parts of Ekiti, Kogi, and Niger states.

(Nigerian Tribune)

Update news