Mkpoikana Udoma
Port Harcourt — The Akwa Ibom State Government has strongly denied reports alleging plans to sell Ibom Power Company as scrap, describing the claims as “false, malicious, and wholly unfounded.”
In a statement signed by the Commissioner for Information, Aniekan Umanah, the government said the report suggesting such a move was “a wicked fabrication” designed to mislead the public and undermine ongoing reforms in the power sector.
“At no time has the Government approved the sale of Ibom Power Company as scrap or otherwise,” Umanah stated. “Such a claim exists only in the imagination of mischief-makers intent on misleading the public.”
Instead, the government revealed it is actively working to stabilize and reposition the company, including repaying a $9 million Afreximbank loan inherited from previous years.
“On March 15, 2025, the Governor approved a structured quarterly repayment of $560,000 to progressively liquidate the facility,” the statement noted, adding that the move reflects “a government focused on revival, stability, and long-term value preservation, not liquidation.”
The government also highlighted ongoing electricity sector reforms under Governor Umo Eno, including a Private Sector Participation, PSP, programme aimed at attracting investment while retaining state ownership of assets.
According to Umanah, “The initiative is designed to attract credible private investment and technical expertise while fully retaining government ownership of all the State’s electricity assets.”
He explained that under the concession model, private operators would rehabilitate and manage electricity infrastructure, while the state maintains strategic control.
“The State will retain ownership and strategic control of all electricity assets,” he emphasized, noting that the reforms are expected to “improve reliability and accelerate the development of a viable electricity market.”
Addressing current power outages, the government clarified that electricity transmission and distribution remain outside its direct control but assured residents of ongoing engagements with relevant authorities to resolve the issue.
Umanah also took aim at the newspaper who reported the claims, accusing it of spreading misinformation.
“It is deeply troubling that Guide Newspaper appears to have consistently resorted to merchandising falsehood,” he said, warning that “government’s measured silence should not be mistaken for weakness,” and hinting at possible legal action over defamation.
He urged the public to disregard the report and rely only on verified official sources for accurate information.
