An advocacy group, Open Forum, dedicated to promoting governance and accountability in Akwa Ibom State, has raised fresh concerns regarding the unaccounted $80 million reportedly allocated by the Federal Government to the Ibom Power Plant.
Speaking during a press conference and end-of-year review in Uyo on Thursday, the group’s president and founder, Matthew Okono, called attention to the issue.
He criticized the state government’s decision to declare a state of emergency in the power sector and its plans to host a power summit without first addressing unresolved scandals in the sector.
The declaration of a state of emergency was made by the governor following a report from the Commissioner of Power and Acting Managing Director of the plant, Dr. Camilus Umoh, during the recent Akwa Ibom State Government inter-ministerial briefing.
This controversy traces back to the sacked Managing Director of the Ibom Power Plant, Meyen Etukudo, who, during a public hearing on September 9, 2024, regarding the Power Policy Bill at the State House of Assembly, expressed his frustrations.
In a video obtained by The PUNCH, Etukudo revealed the plant was burdened with 33 court cases and debts amounting to N10.48 billion.
He also disclosed that the $80 million lifeline from the Federal Government had not been received by the plant.
“Our total debt is N10.48bn with 33 court cases, so Ibom Power never received any money, even the $80m given to Ibom Power by the Federal government never arrived Ibom Power Plant till this moment,” Etukudo lamented.
Okono, while addressing the media at the Open Forum Secretariat in Uyo, condemned the decision to declare a state of emergency and hold a summit, urging investigations into the alleged scandals.
He pointed out that the Commissioner of Power’s report during the briefing highlighted a $40 million debt owed to Accugas, the plant’s gas supplier, but failed to address the missing $80 million and ongoing court cases involving the plant.
“We are shocked that there is no report by the Commissioner for Power and Acting Managing Director/CEO of Ibom Power, Dr. Camilus Umoh, on the state of the controversial comprehensive technical audit of the company ordered by His Excellency, whose report was submitted to the Governor by Savannah Energy and Akwa Ibom Investment Corporation (AKICORP) earlier in the year, precisely in April 2024,” Okono said.
He continued, “It is curious that the commissioner for power revealed that Accugas, the gas supplier to Ibom Power, is being owed a whopping N40bn, but no mention was made on the information that Eighty Million US Dollars ($80M) given to Ibom Power by the Federal Government is nowhere to be found.
“Also, we have not seen an update on an international court case in London/Cairo, as well as others over debts by Ibom Power. We do not know if mention was made on the level of progress in the Power Policy Bill in the Akwa Ibom House of Assembly.
“It is our considered opinion that if the challenges plaguing Ibom Power and those who have by their actions and inactions brought the legendary vision of the Obong Victor Attah administration to harm’s way are not made to account, Akwa Ibom may not be able to benefit from the deregulated power sector in Nigeria despite owning a power plant.
“A declaration of a state of emergency power and/or hosting of a power summit should only be considered after the trending and troubling scandals are addressed.
“The damaging revelations that have called to question the integrity of many high-ranking public officials, past and present, cannot be wished away or assumed not to be in public domain,” he said.
On another matter, the group’s president criticized the state government’s plans to revitalize Peacock Paint without first conducting a forensic audit to account for N526 million invested in the company by the Udom Emmanuel administration in 2015.
“The directive to AKICORP to ensure the revitalisation of the Peacock Paint at Ikot Ekan, Etinan LGA calls for concern given the monumental losses the government and people of the state have suffered from the company during the immediate past administration of Mr Udom Emmanuel.
“It’s our recommendation that any further investment in Peacock Paint without a forensic audit of how N526m put in to revamp the company within the first one hundred days of the Udom Emmanuel administration in 2015 ended up being a monumental waste due to alleged and obvious corruption will amount to putting a cart before the horse.
“All those involved in the management of the failed company, including the supervisory agency, AKICORP, should be made to explain what happened to the over half a billion Naira invested by government in 2015. Those found culpable should be made to refund amounts unaccounted for,” Okono stated.
