Ibadan Electricity Distribution Company (IBEDC) is set to inject funds into redundant hydro power plants to bring them back to life and boost electricity supply to the public, especially in its franchise areas.
This is coming with the reconstitution of a new board of directors, which has Tunde J. Afolabi as the new chairman, while the company promised to strengthen governance, enhance operational performance, deepen capital investment, and deliver improved service to customers across our franchise areas.
While saying that the company is facing a lot of challenges, leading to its inability to meet the demands of the people under its franchise areas, noted “we are planning to buy and invest more to get supplies from the generation companies to satisfy our customers.
Speaking at a press conference held at the company’s corporate head office in Ibadan, Afolabi announced the emergence of a new core investor and the reconstitution of its Board of Directors following the resignation of three nominees of the Asset Management Corporation of Nigeria (AMCON).
Afolabi, in the company of other directors and critical stakeholders, described the development as a significant milestone in the company’s corporate journey, saying the transition signals a renewed strategic direction anchored on stability, continuity, and sustainable growth.
While assuring that there would be no avoidable service disruptions as a result of the transition noted that the “transition represents renewal, not rupture. It represents investment, not instability. It represents partnership, not division.”
The new Chairman said the new core investor is committed to sustaining capital investments in feeder rehabilitation and expansion, transformer upgrades and replacements, injection substation improvements, and the replacement of obsolete network components to improve supply reliability.
Assuring that all IBEDC offices would remain open and field operations would continue uninterrupted, he added that the Board would actively engage stakeholders across its franchise areas while equipping staff with modern tools and improved systems to enhance operational efficiency and service delivery.
The distribution company, which distributes electricity across Ogun, Oyo, Osun and Kwara states, as well as parts of Ekiti, Kogi, and Niger states, also plans to accelerate the integration of advanced digital and operational technologies, including enhanced outage management systems, strengthened billing platforms, expanded smart metering deployment, and digitized customer engagement channels aimed at improving transparency and responsiveness.
The new board also promised proactive and structured engagement with regulators, including the Nigerian Electricity Regulatory Commission (NERC) and the Nigerian Electricity Management Services Agency (NEMSA), underscoring its commitment to full regulatory compliance, strengthened governance frameworks, transparency, and accountability.
Likewise, the company reaffirmed its commitment to structured and timely payment cycles for vendors and suppliers, recognizing their critical role in maintaining network stability.
With the coming of the new Board, Afolabi assured that there would be no job losses as a direct result of the transition.
According to the Chairman, the board is committed to improved employee welfare, provision of modern work tools and safety equipment, and technology upgrades to support field efficiency, while maintaining high performance standards.
The company, however, said it is poised to deepen operational excellence, strengthen financial sustainability, and position itself firmly on the path to becoming Nigeria’s leading power distribution company, powering progress across its franchise areas with unity, confidence, and innovation.
The newly constituted Board is chaired by Afolabi. Other members include Ayodeji Ariyo Gbeleyi (with Michael I. Magaji as Alternate Director), Taiwo Afolabi, Oladapo Afolabi, professor, Tunde Fayinka, Oluwaseyi Akinwale, and Adeolu Ijose
IBEDC, established in November 2013 following Nigeria’s power sector privatisation, has the largest distribution network and serves the highest customer population within Nigeria’s electricity distribution landscape.
