- According to the government, the publication is entirely untrue and should not be taken seriously
- Umanah explained that the current administration remains committed to strengthening the company’s operations
- He added that efforts are underway in collaboration with relevant authorities to address the situation and improve supply
Akwa Ibom State Government has dismissed claims published by a Uyo-based tabloid alleging that Governor Umo Eno’s administration intends to sell the state-owned Ibom Power Company.
Officials clarified that there has never been any plan to dispose of the facility, stressing that such an idea does not align with government policy, Eko Hot Blog reports.
EDITOR’S PICK
- Why Return of Lagos Monthly Sanitation Exercise is Long Overdue
- Four Killed as Truck Crashes Into Bus on Lekki–Epe Expressway
- Uzodimma: Tinubu Reforms Prevent Fuel Crisis
In a statement released in Uyo on Thursday, the Commissioner for Information, Aniekan Umanah, urged residents to ignore the report, describing it as a deliberate falsehood filled with baseless and misleading accusations.
According to the government, the publication is entirely untrue and should not be taken seriously.
It emphasized that at no point has any approval been given to sell Ibom Power Company, whether as scrap or in any other form, adding that the claim was fabricated to misinform the public and disrupt ongoing reforms in the power sector.
Umanah explained that the current administration remains committed to strengthening the company’s operations.
As part of this effort, the government is focused on settling a $9 million loan previously obtained from Afreximbank to stabilize and reposition the facility for long-term sustainability.
He revealed that in March 2025, Governor Umo Eno approved a structured repayment plan involving quarterly payments of $560,000.
This approach, he said, is aimed at gradually clearing the debt and freeing the company from financial burdens, demonstrating a commitment to recovery and growth rather than liquidation.
The commissioner also acknowledged ongoing power outages in parts of the state but noted that electricity transmission and distribution are not directly controlled by the state government.
He added that efforts are underway in collaboration with relevant authorities to address the situation and improve supply.
Furthermore, the government has launched a Private Sector Participation programme designed to revamp the electricity sector through a concession model that includes both generation and distribution assets, such as Ibom Power Company.
This initiative seeks to attract private investment and technical expertise while ensuring that ownership of all state electricity assets remains with the government.
As part of these reforms, the state has established the Akwa Ibom State Electricity Regulatory Commission to oversee the sector, created Ibom Electricity Holdings Limited to manage state-owned power assets, and placed its shares under the Akwa Ibom Investment Corporation.
FURTHER READING
