The Ibadan Electricity Distribution Company (IBEDC) has announced the reconstitution of its Board of Directors following the resignation of three nominees of the Asset Management Corporation of Nigeria (AMCON).
The announcement was made at a press conference held at the company’s corporate headquarters in Ibadan by the new Board Chairman, Chief Tunde J. Afolabi, MFR.
The newly constituted Board is chaired by Chief Afolabi and includes 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.
Speaking at the briefing, the Chairman described the emergence of a new core investor and the reconstituted Board as a significant milestone in the company’s corporate journey, signalling a renewed strategic direction anchored on stability, continuity and sustainable growth.
He stressed that the transition represents renewal rather than disruption, with a clear focus on strengthening corporate governance, improving operational efficiency, deepening capital investment and enhancing service delivery across its franchise areas.
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. The company operates the largest distribution network and serves the highest customer population within Nigeria’s electricity distribution sector.
Addressing customers, the Chairman assured that the transition would not result in avoidable service disruptions, noting that all IBEDC offices will remain open while field operations continue uninterrupted. He added 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.
The company also plans to accelerate the deployment of advanced digital and operational technologies, including enhanced outage management systems, strengthened billing platforms, expanded smart metering initiatives and digitised customer engagement channels to boost transparency and responsiveness.
On workforce stability, the Board assured employees that no job losses would occur as a direct result of the transition. It reaffirmed its commitment to staff welfare, improved work tools, modern safety equipment and technology upgrades to support field efficiency while maintaining high performance standards.
The Board further pledged proactive engagement with regulators such as the Nigerian Electricity Regulatory Commission (NERC) and the Nigerian Electricity Management Services Agency (NEMSA), underscoring its resolve to ensure full regulatory compliance, strengthened governance frameworks, transparency and accountability.
IBEDC also reaffirmed its commitment to structured and timely payment cycles for vendors and suppliers, acknowledging their critical role in maintaining network stability.
With the new Board in place, the company expressed confidence in its ability 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 renewed unity and innovation.
 has announced the reconstitution of its Board of Directors following the resignation of three nominees of the Asset Management Corporation of Nigeria (AMCON). ){kind=link}