The administration of Akwa Ibom State Governor, Umo Eno, has dismissed reports alleging plans to sell the state-owned Ibom Power Company, describing the claims as false, malicious, and entirely unfounded.
In a statement issued in Uyo, the Commissioner for Information, Aniekan Umanah, refuted a publication by a local tabloid, insisting that the government has no intention of disposing of the power facility.
He urged the public to disregard the report, labelling it a fabrication aimed at misleading residents and undermining ongoing reforms in the state’s power sector.
Umanah clarified that at no point has the government approved the sale of Ibom Power Company, either as an operational asset or otherwise, stressing that such claims exist only in the imagination of mischief-makers.
Instead, he explained that the administration is focused on strengthening the company’s financial position, including efforts to repay a $9 million loan obtained from Afreximbank.
As part of this strategy, the governor had earlier approved a structured quarterly repayment plan of $560,000, starting from March 15, 2025, to gradually clear the debt and stabilise the company.
He emphasised that the move reflects a commitment to revitalisation, sustainability, and long-term value—not liquidation.
Addressing ongoing power outages in parts of the state, the commissioner noted that electricity transmission and distribution are not directly controlled by the state government but assured that engagements are ongoing with relevant stakeholders to resolve the issues.
He also revealed that the government has launched a structured Private Sector Participation programme aimed at repositioning the electricity sector through a concession framework covering both generation and distribution assets, including Ibom Power Company.