General
IBEDC Promises Stability, Growth After Board Restructuring
By Adedapo Adesanya
The Ibadan Electricity Distribution Company (IBEDC) has announced the reconstitution of its board following the resignation of three nominees of the Asset Management Corporation of Nigeria (AMCON), promising growth and stability.
Earlier this week, the disco, which serves Oyo, Ogun, Osun and Kwara States, as well as parts of Ekiti, Kogi and Niger States, unveiled its new board led by the new chairman, Mr Tunde J. Afolabi.
The newly constituted board include Mr Ayodeji Ariyo Gbeleyi, with Mr Michael I. Magaji as Alternate Director; Mr Taiwo Afolabi; Professor Oladapo Afolabi; Mr Tunde Fayinka; Mr Oluwaseyi Akinwale and Mr Adeolu Ijose.
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 and signals 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,” he added.
Mr Afolabi, while addressing customers directly, assured them that there would be no avoidable service disruptions as a result of the transition, stating that all IBEDC offices will remain open, while field operations will continue uninterrupted.
“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,” he stated.
He added that IBEDC plans to accelerate the integration of advanced digital and operational technologies, disclosing that these include enhanced outage management systems, strengthened billing platforms, expanded smart metering deployment, and digitised customer engagement channels aimed at improving transparency and service responsiveness.
On workforce stability, the chairman emphasised that there will be no job losses as a direct result of the transition, noting that the board, under his leadership, is committed to employee welfare, improved work tools, modern safety equipment, and technology upgrades to support field efficiency, while maintaining high performance standards.
Mr Afolabi also pledged 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.
Furthermore, he reaffirmed the commitment of the distribution company to structured and timely payment cycles for vendors and suppliers, recognising their critical role in maintaining network stability.
With the new board in place, he insisted that IBEDC 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 with unity, confidence and innovation.
Established in November 2013 following Nigeria’s power sector privatisation, IBEDC operates the largest distribution network serving the highest customer population within Nigeria’s electricity distribution landscape.
General
NECA’s Annual Retreat for Business Managers, Executives Holds April 16
By Aduragbemi Omiyale
The annual retreat for business managers and executives organised by the Nigeria Employers’ Consultative Association (NECA) will take place from April 16 to 18, 2026, at the AAE & T Hotel, Kuto, Abeokuta, Ogun State.
This year’s edition is themed The Resilient Enterprise, People and Systems: Building and Managing Businesses that Outlive Seasons, Cycles and Crises.
The programme aims to equip leaders with the insights, tools, and networks required to build resilient organisations in an increasingly complex business environment.
It will provide a unique platform for executive-level engagement through high-level conversations, peer learning sessions with experienced leaders, strategy reflection workshops, and curated networking opportunities.
Expected to attend are industry leaders, senior executives, and business managers from across sectors. They will explore strategies for sustaining organisational performance through leadership transitions, economic cycles, regulatory shifts, and market disruptions.
Participants will also benefit from interactive discussions focused on strengthening corporate governance, developing agile leadership capabilities, and building organisational systems that can withstand periods of uncertainty and transformation.
A notice from NECA said the event is open to both members and non-members, with participation fees set at N300,000 for members and N320,000 for non-members. Discounts will also be available for Gold and Silver members, subject to applicable terms and conditions.
Interested participants are encouraged to register via the official registration link to secure their place at the retreat, which promises to deliver valuable insights and connections for executives seeking to build enterprises capable of thriving through seasons of change and uncertainty.
The Director-General of NECA, Mr Adewale Smatt-Oyerinde, noted that by convening business managers and senior executives in a collaborative learning environment, the association aims to contribute to the development of stronger, future-ready enterprises that can drive economic growth, create jobs, and support national development even in the face of evolving global and local challenges.
He added that the retreat will provide executives with the opportunity to step away from daily operational demands and engage in deeper strategic conversations with peers and industry experts.
“The theme of this year’s retreat speaks directly to the realities businesses face today. Across sectors, organisations are navigating leadership transitions, regulatory shifts, economic pressures, and technological disruption.
“What distinguishes enduring enterprises is their ability to build strong systems, develop capable leaders, and create organisational cultures that can adapt and respond effectively to change,” the NECA chief said.
General
Egbin Power Commissions 80 New Staff Housing Units
By Modupe Gbadeyanka
In further demonstration of its unwavering commitment to its workforce, Nigeria’s foremost power generation company, Egbin Power Plc, has unveiled 80 new residential housing units for employees within its plant premises in Egbin, Lagos State.
This comprises 40 fully furnished three-bedroom apartments and 40 furnished studio apartments, all designed to contemporary standards.
The units feature modern infrastructure and thoughtfully planned utilities, creating a safe, comfortable, and conducive living environment that supports both employee productivity and family well-being.
This strategic investment underscores the company’s philosophy that a well-supported workforce is fundamental to sustained operational excellence.
The new housing units are part of a holistic strategy to cultivate a stable, motivated, and future-ready workforce.
This strategy extends beyond infrastructure to encompass robust career development and recognition. Over the past three years, Egbin Power has promoted 112 employees across various cadres, reinforcing a culture that rewards merit, performance, and long-term dedication
“At Egbin Power, our people are our most valuable asset. Even amidst the prevailing liquidity and operational realities within the broader power sector, our focus on employee welfare has remained deliberate and consistent.
“This significant expansion of our residential estate is a tangible expression of that commitment.
“It is one of several key initiatives aimed at ensuring our employees feel genuinely supported, allowing them to thrive both personally and professionally,” the chief executive of Egbin Power, Mr Mokhtar Bounour, said.
Initiated in 2025 and completed in January 2026, this project is the latest milestone in Egbin Power’s structured and ongoing approach to enhancing employee welfare. It reflects the energy firm’s dedication to fostering a culture where every team member feels valued, secure, and motivated.
General
NGX Group, CSCS, WIMBIZ to Ring Bell for Gender Equality
By Aduragbemi Omiyale
On Tuesday, March 10, 2026, at the Nigerian Exchange Group House in Lagos, the role of capital markets in promoting gender equality will be reemphasised through the closing gong ceremony in commemoration of International Women’s Day 2026.
The ceremony is part of the global Ring the Bell for Gender Equality campaign, which mobilises stock exchanges worldwide to expand women’s participation in the economy and advance gender-inclusive practices.
In Nigeria, the NGX Group is partnering with the Central Securities Clearing System (CSCS) Plc and Women in Management, Business and Public Service (WIMBIZ) to make it memorable under the theme Rights. Justice. Action. For ALL Women and Girls.
Dignitaries expected at the ceremony include the Minister of State for Foreign Affairs, Mrs Bianca Odumegwu-Ojukwu; the First Lady of Imo State, Mrs Chioma Uzodimma; the Executive Commissioner for Legal and Enforcement at the Securities and Exchange Commission (SEC), Ms Frana Chukwuogor; foremost actor, Ms Funke Akindele; a Director at the NGX Group, Ms Ojinnika Olaghere; and another staffer of NGX Group, Mrs Fatima Wali-Abdulrahman, alongside board members of NGX Group, regulators, capital market stakeholders, and industry leaders.
NGX Group is joining other exchanges worldwide in sounding the NGX Gong to underscore the importance of inclusive leadership, equal opportunities, and stronger market accountability in advancing gender equality.
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