Financial Energy Review
Eko Electricity Distribution Plc, EKEDC, has announced the appointment of Oritsedere Otubu, a pioneer board member, as its new Chairman. He replaces Charles Momoh who was the pioneer Chair and is stepping down after 8 years in line with international best practices. It is expected that Otubu will consolidate on the gains achieved under Momoh.
This announcement was made via an official statement by the EKEDP General Manager, Corporate Communications, Godwin Idemudia. According to the statement, the EKEDP Board and Management are fully confident that the new chairman will astutely lead the Company into a new phase of developmental journey to attain industry milestones and optimise its position as the leading and customer- centric power utility company and the preferred choice of all stakeholders.
Otubu is an accomplished entrepreneur with a diversified portfolio of investments that has a track record of successfully developing and building businesses for over 30 years. He plays a strong leadership role in the direction and governance of many companies where he holds significant interests. He is the Chairman of Elektron Petroleum Energy and Mining Limited, owners of Alausa Power Limited; Chairman of Venture Garden Group; former Director of Access Bank Plc; a past member of the Economic Advisory Team of Delta State, and has also served on the Board of Trustees of Western Delta University. Otubu is an expert in Finance and Economics, and has attained many academic degrees both within and outside the country. He holds a master’s degree in Accounting from Houston Baptist University Texas in the United States. He is an avid sportsman and a sports enthusiast.
According to the Company’s Board and Management, Otubu will continue the drive in improving the Company’s service delivery capabilities and enhance its customer-centric approach.
In his response, Otubu disclosed, “This is quite an important point for the power sector in its journey to maturity as the needs of our customers, regulators, and other stakeholders are changing rapidly. We are engaging continuously to strategically and innovatively chart the course of this Company’s growth and contribute to both the power sector and the nation’s development in ways that will enable sustained and beneficial growth for all, in the years ahead”.
The statement further encouraged customers, partners and other stakeholders to give their full support and cooperation to the Company’s new Chairman and Board of Directors.
