A report by the Uyo-based tabloid Guide Newspaper on plans to sell the state-owned Power Company has been characterized by the administration of Akwa Ibom State Governor Umo Eno as a terrible fabrication that contains a number of false, malicious, and completely baseless charges.
According to reports, Aniekan Umanah, the Commissioner for Information, confirmed in a statement released in Uyo on Thursday that the government does not intend to sell the power plant 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 said.
“We want to make it clear that the publication in question is a terrible falsehood and that the public should reject it in its entirety.
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 could make such a claim.
Umanah went on to say that in an effort to reposition the plant for sustainable operations, Eno’s administration concentrated on paying back the $9 million loan that the power firm had received from Afreximbank.
He said that in order to gradually offset the debt and release the business from financial obligations, the governor approved a structured quarterly repayment of $560,000 on March 15, 2025.
“This decisive action clearly reflects a government focused on revival, stability and long-term value preservation, not liquidation,” he emphasized.
The commissioner acknowledged that some areas of the state are currently experiencing power outages, but pointed out that the state government currently has no authority over the distribution and transmission of electricity.
Nonetheless, 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.
In order to reposition the state’s power industry through a concession framework covering production and distribution assets, including Ibom Power Company Limited, Umanah also revealed that the government has started a structured Private industry Participation initiative.
