Folake Soetan earns her place among the 100 Reputable Women of African Descent 2025 as a powerhouse transforming the landscape of Nigeria’s energy industry. As the Chief Executive Officer of Ikeja Electric Plc, the largest electricity distribution network in Sub-Saharan Africa, Soetan stands at the forefront of strategic innovation and corporate leadership, driving real change in one of the continent’s most critical sectors. Her visionary leadership has not only reshaped how power is delivered in Nigeria but has also earned her a reputation as one of Africa’s most influential women in energy.
Appointed as Acting CEO in March 2020 and later confirmed in the role, Folake Soetan has revolutionized Ikeja Electric’s operations by embracing technology, transparency, and sustainability. Under her stewardship, the company has significantly reduced Aggregate Technical, Commercial, and Collection (ATC&C) losses from over 41% to an impressive 24.9% within four years. She championed the Bilateral Power initiative, guaranteeing a minimum of 20 hours of electricity supply to customers through the National Grid a groundbreaking development in Nigeria’s notoriously unstable power sector. These achievements, coupled with organizational excellence, have earned Ikeja Electric multiple industry recognitions, including “Best Electricity Distribution Company” and “Most Gender Diverse Utility Company” at the Nigeria Power Sector Awards.
With more than two decades of experience across aviation, oil & gas, and power, Folake’s professional journey is a masterclass in cross-sector excellence and strategic growth. She began her career in aviation, leading sales for British Airways and Virgin Nigeria before joining Sahara Group in 2009, where she served as Vice President, Downstream West Africa. There, she led the expansion of SO Aviation into Ghana, turning it into an $86.7 million enterprise. Her entry into Ikeja Electric marked a pivotal transition into energy distribution, where she rapidly rose through the ranks from Deputy Chief Commercial Officer to Chief Operating Officer and now CEO.
Folake’s leadership extends far beyond the boardroom. She is a fervent advocate for gender inclusion and the empowerment of women in STEM and energy. As a founding member of the Women in Energy Network, a Board Member of Women in Management, Business and Public Service (WIMBIZ), and a member of The Boardroom Africa, she continues to inspire and support the next generation of female leaders. In 2024, she was named Outstanding Woman in Energy (Power Sector) by the Women in Maritime & Energy Awards, and in 2022, she was recognized as one of “Eko 100 Women” by the Lagos State government for her trailblazing contributions. Her influence was further amplified in April 2025 with her appointment as an Independent Non-Executive Director of the Nigerian Independent System Operator, deepening her footprint in national energy governance.
An alumna of the prestigious Harvard Business School Advanced Management Program, Folake Soetan holds a Bachelor’s degree in Banking and Finance from the University of Lagos. Despite her demanding professional commitments, she remains deeply connected to her role as a wife to Nigerian lawyer Ladipoe Soetan and mother to twin boys. Her dedication to mentorship is unwavering, as seen through her involvement with the DSVA Queens Club, where she empowers young girls with the confidence and tools to lead.
Folake Soetan exemplifies what it means to lead with purpose, integrity, and impact. Her career is a blueprint for how African women can take the reins of complex systems and deliver results that resonate both locally and globally. As one of the 100 Reputable Women of African Descent 2025, she continues to break barriers, electrify possibilities, and light the path for a more sustainable and equitable energy future in Africa.
Leave a comment