FG Owes Akwa Ibom N40bn Power Debt, Says Governor Eno
Governor Eno of Akwa Ibom State revealed that the federal government owes the Ibom Power Company (IPC) over N40 billion, which has severely impacted the company's ability to operate. During a media briefing in Uyo, he explained that IPC is indebted to Savannah Energy for N25 billion due to unpaid gas supplies.
Eno noted that the federal government's failure to pay its debts has hindered IPC's capacity to provide regular power supply to citizens. He mentioned that IPC is currently in litigation in the UK to collect a judgment against the federal government.
Barr Paul Usoro, SAN, is assisting IPC in negotiations to recover the owed amounts. Eno emphasized that the state government is taking steps to establish a regulatory commission to manage power generation and transmission, although he acknowledged that the process would take time.
He also mentioned that IPC has been unable to pay Savannah Energy, which has affected their operations and gas drilling activities.
Plus234Feed summary based on reporting from Daily Trust. Read the original report below.
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