Akwa Ibom rejects claims of Ibom Power sale
The Akwa Ibom State Government has dismissed reports that it plans to sell the state-owned Ibom Power Company. The administration of Umo Eno described the allegations as false and malicious, urging the public to disregard them. Aniekan Umanah, the Commissioner for Information, clarified that the government is instead focused on repaying debts and improving the power sector. The government emphasized its commitment to sector reforms and retaining ownership of electricity assets.
What we know
- The Akwa Ibom State Government denied any plans to sell Ibom Power Company, calling the report a fabrication.
- Aniekan Umanah stated that the government is repaying a $9 million loan from Afreximbank, with a structured quarterly repayment of $560,000 approved on March 15, 2025.
- The administration is implementing a Private Sector Participation programme to attract investment while keeping full government ownership of electricity assets.
- Measures taken include establishing the Akwa Ibom State Electricity Regulatory Commission and creating Ibom Electricity Holdings Limited.
- The government is engaging relevant institutions to address power outages and improve electricity supply in the state.
