Ibom Power not for sale, Akwa Ibom government dismisses report
The Akwa Ibom State Government has dismissed claims that Ibom Power Company is being sold, describing the report as false and misleading.
In a statement, the Commissioner for Information, Aniekan Umanah, said the publication by Guide Newspaper was “a wicked fabrication” and urged the public to disregard it.
The government insisted that under Governor Umo Eno, there has been no approval to sell the state owned power company.
Instead, it said the administration is focused on stabilising the company, including repaying a nine million dollar loan obtained from the African Export-Import Bank.
According to the statement, the governor approved a structured quarterly repayment plan of 560,000 dollars in March 2025 to gradually clear the debt and reposition the company.
The government also outlined ongoing electricity sector reforms, including the creation of a state electricity regulatory commission and a new holding company to manage power assets.
Officials say a private sector participation model is being introduced to attract investment while ensuring that ownership of all electricity assets remains with the state.
The statement acknowledged ongoing power outages but noted that transmission and distribution are currently outside the control of the state government, adding that efforts are being made to address the situation.
The government further warned against the spread of misinformation, saying legal action could be taken against publications found to be peddling falsehoods.
