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A report concerning intentions to sell the state-owned Power Company published in the Uyo-based tabloid Guide Newspaper has been called a wicked fiction by the administration of Akwa Ibom State Governor Umo Eno. The report contains a number of false, nasty, and completely baseless charges.
Aniekan Umanah, the Commissioner for Information, reportedly confirmed that the government has no plans to sell the power plant in a statement released in Uyo on Thursday and asked the people to ignore the publication.
“The Akwa Ibom State Government’s attention has been drawn to a publication by a tabloid based in Uyo, Guide Newspaper, which contains false, malicious, and wholly unfounded allegations regarding the status of Ibom Power Company and the intentions of His Excellency, Pastor Umo Eno’s administration concerning the company,” the statement stated.
“We want to make it clear that the aforementioned publication is a terrible lie and that the public should reject it completely.
“The sale of Ibom Power Company, whether as scrap or otherwise, has never been authorized by the government. Only mischievous people who want to deceive the public and sabotage the state government’s ongoing sector reform initiatives would make such a claim.
Umanah went on to say that in order to reposition the facility for sustainable operations, Eno’s administration concentrated on repaying the $9 million loan that the power firm had acquired from Afreximbank.
He revealed that in order to gradually offset the debt and release the business from financial obligations, the governor approved a structured quarterly payback of $560,000 on March 15, 2025, as part of this pledge.
“This decisive action clearly reflects a government focused on revival, stability, and long-term value preservation, not liquidation,” he emphasized.
The commissioner acknowledged that there are currently power outages in some areas of the state, but pointed out that the state government has no control over the distribution or transmission of electricity.
However, he stated that the government is working with pertinent organizations to guarantee a prompt resolution of the issue and enhance the supply of electricity to citizens and businesses.
Umanah further disclosed that the government has commenced a structured Private Sector Participation programme to reposition the state’s electricity sector through a concession framework covering generation and distribution assets, including Ibom Power Company Limited.
