Ibom Power Company Audit Not A Witch-Hunt, Governor Umo Eno Assures

Akwa Ibom State Government and Savannah Energy Nigeria, have signed a Memorandum of Understanding for an operational audit of the state owned electricity generating firm, Ibom Power Company.

Speaking while overseeing the sealing of the deal at Government House, Uyo, the State Governor, Pastor Umo Eno, said he was passionate about ensuring that the people of the State benefit optimally from investments made by  government.

He explained that the audit was not a witch-hunt at anybody but premised on  the need to have an unbiased assesment of the company, aimed at resolving inherent issues and ensuring that the State receives accruable dividends towards  increasing its internally generated revenue potential.

“The intention here is quite simple. I’ve visited Ibom Power company and there have been lots of issues here and there. I decided that to help us really look at the issues about the company a very passionately and unbiased audit must be carried out to ascertain what the issues are.

“Why are we not having power supply? Why are we not having the full benefits of what the plant was set up for? Why are Akwa Ibomites not having the dividends? There are other power plants managed  privately and they’re making money, why is our own not giving back to the State government?” the Governor queried .

Recalling briefs he received during a facility tour of the company, Governor Eno maintained that the unbiased audit, beyond unravelling issues bedeviling the firm, will proffer technical and operational viable solutions, void of factional sentiments, to help the company move forward.

“From those who have briefed me, different people have different views and I don’t want to be caught in the web of any view, so what will help the government is to conduct a technical and operational audit and see where things are not going right or what we should do to get the right things done .

“The audit is not a witch-hunt of anybody. We are just trying to find out how we can move forward. The audit will be done, reports will be made available and we will be willing to discuss it so that we can all fall in line with what to do.”

He therefore reaffirmed his directive that all State government investments be managed by the Akwa Ibom Investment Corporation, AKICORP, and asked the MD/CEO of the corporation, Pastor Imo-Abasi Jacob, to supervise the Ibom Power Company and Savannah Energy deal on behalf of the State government, to ensure clarity on timelines and other details of the MoU as well as its implementation.

Speaking on behalf of Savannah Energy, Managing Director and Chief Executive Officer, Engineer Pade Durotoye, said his company was delighted about the partnership, adding that the new deal, for Savannah Energy, reaffirms the cordial and mutually beneficial relationship between the firm and the State.

He assured of his company’s commitment to supporting the State’s energy drive towards improved Internally Generated Revenue and economic development.

Giving details of the MoU, the State Attorney General and Commissioner for Justice, Uko Udom, SAN, said the MoU was a tripartite agreement between the Akwa Ibom State Government, Ibom Power Company and Savannah Energy Nigeria, with the State Government as a beneficial owner of Ibom Power and AKICORP as holder of the shares on behalf of Government while Savannah Energy will be handling the audit on behalf of Government.

The State Attorney General further explained that the MoU was not a binding agreement, but an indication of intent by the parties involved to engage in the relationship, after which the parties will get to negotiate on a proper agreement that will clearly define the interest of all the parties.

Send Us A Press Statement Advertise With Us Contact Us

 And For More Nigerian News Visit GWG.NG