IBEDC Reconstitutes Board Following Emergence of New Core Investor
By Naija Enquirer Staff
The Ibadan Electricity Distribution Company (IBEDC) has reconstituted its Board of Directors following the resignation of three nominees of the Asset Management Corporation of Nigeria (AMCON).
The development was disclosed on Tuesday in Ibadan by the new Chairman of the Board, Chief Tunde J. Afolabi.
The newly constituted board, chaired by Afolabi, includes Mr. Ayodeji Ariyo Gbeleyi (with Mr. Michael I. Magaji as Alternate Director); Dr. Taiwo Afolabi; Prof. Oladapo Afolabi; Mr. Tunde Fayinka; Mr. Oluwaseyi Akinwale; and Mr. Adeolu Ijose.
New Core Investor Signals Strategic Shift
According to the chairman, the emergence of a new core investor and the reconstituted board marks a significant milestone in the company’s corporate journey, signaling a renewed strategic direction focused on stability, continuity, and sustainable growth.
“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,” Afolabi stated.
Service Continuity Assured
Addressing customers directly, Afolabi assured that there would be no avoidable service disruptions as a result of the transition. He confirmed that all IBEDC offices will remain open, while field operations will continue uninterrupted.
He disclosed that the new core investor has committed to sustained capital investments in feeder rehabilitation and expansion, transformer upgrades and replacements, injection substation improvements, and the replacement of obsolete network components.
Technology and Infrastructure Upgrade
The chairman revealed plans to accelerate the integration of advanced digital and operational technologies. These include enhanced outage management systems, strengthened billing platforms, expanded smart metering deployment, and digitized customer engagement channels aimed at improving transparency and service responsiveness.
Workforce Stability and Regulatory Compliance
Afolabi emphasized that there will be no job losses as a direct result of the transition. He reaffirmed the board’s commitment to employee welfare, improved work tools, modern safety equipment, and technology upgrades to enhance field efficiency while maintaining high performance standards.
He also pledged proactive engagement with regulators, including the Nigerian Electricity Regulatory Commission (NERC) and the Nigerian Electricity Management Services Agency (NEMSA), underscoring IBEDC’s commitment to regulatory compliance, strengthened governance frameworks, transparency, and accountability.
Furthermore, he assured vendors and suppliers of structured and timely payment cycles, acknowledging their critical role in sustaining network stability.
About IBEDC
Established in November 2013 following Nigeria’s power sector privatization, IBEDC is licensed to distribute electricity across Ogun, Oyo, Osun, and Kwara States, as well as parts of Ekiti, Kogi, and Niger States. The company operates the largest distribution network and serves the highest customer population within Nigeria’s electricity distribution landscape.
With the new board in place, IBEDC says it is positioned to deepen operational excellence, strengthen financial sustainability, and move toward becoming Nigeria’s leading power distribution company.
