We develop a new theoretical formulation to study ion conductance in electrolyte solutions, based on a mode coupling theory treatment of the electrolyte friction. The new theory provides expressions for both the ion atmosphere relaxation and electrophoretic contributions to the total electrolyte friction that acts on a moving ion. While the ion atmosphere relaxation term arises from the time-dependent microscopic interaction of the moving ion with the surrounding ions in the solution, the electrophoretic term originates from the coupling of the ion's velocity to the collective current mode of the ion atmosphere. Mode coupling theory, combined with time-dependent density functional theory of ion atmosphere fluctuations, leads to self-consistent expressions for these two terms which also include the effects of self-motion of the ion under consideration. These expressions have been solved for the concentration dependence of electrolyte friction and ion conductance. It is shown that in the limit of very low ion concentration, the present theory correctly reduces to the well-known Debye-Huckel-Onsager limiting law which predicts a linear dependence of conductance on the square root of ion concentration (c). At moderate and high concentrations, the present theory predicts a significant nonlinear and weaker dependence on root c which is in very good agreement with experimental results. The present theory is self-contained and does not involve any adjustable parameter.