Akwa Ibom Government Denies Plans to Sell Power Company

The government of Akwa Ibom, under Governor Umo Eno, issued a clarification regarding reports of plans to sell the state-owned power company, which were described as false and malicious. Aniekan Umanah, the Commissioner for Information, stated that the government has no intention of selling the power plant and urged the public to disregard the misleading reports.

Umanah explained that the government is collaborating with Afreximbank to ensure the sustainability of the power company, which includes a structured repayment plan of $560,000 due by March 15, 2025, to gradually offset the company's financial encumbrances. The government acknowledged ongoing power outages, attributing them to issues outside its control, but is actively engaging relevant institutions to resolve these problems and improve power supply for residents and businesses.

Additionally, the government plans to initiate a program for private sector participation in the state's electricity sector.