An advocacy group, Open Forum, has raised concerns over the unaccounted $80 million Federal Government lifeline reportedly allocated to the Ibom Power Plant in Akwa Ibom State. The group’s president, Matthew Okono, highlighted this issue during an end-of-year press conference in Uyo on Thursday, emphasizing the need for accountability before further steps are taken to address the state’s power challenges.
Okono’s remarks followed Governor Umo Eno’s declaration of a state of emergency in the power sector and plans for a power summit. The governor’s actions were in response to a report by the Commissioner for Power, Dr. Camilus Umoh, during the recent inter-ministerial briefing.
Former Ibom Power Plant Managing Director Meyen Etukudo had earlier disclosed during a public hearing in September that the Federal Government’s $80 million lifeline never reached the plant, despite the company struggling with N10.48 billion in debts and 33 court cases.
“Our total debt is N10.48 billion with 33 court cases. Ibom Power never received any money, even the $80 million given by the Federal Government,” Etukudo lamented at the time.
Okono criticized the state government’s focus on a power summit without addressing unresolved scandals. He expressed shock that the commissioner’s briefing omitted key issues, including the unaccounted $80 million and the progress of a technical audit conducted by Savannah Energy and Akwa Ibom Investment Corporation (AKICORP).
“The declaration of a state of emergency in the power sector and the hosting of a power summit should only be considered after addressing these scandals,” Okono said.
The group also called for updates on court cases involving Ibom Power, including international disputes, and urged transparency regarding the plant’s $40 billion debt to gas supplier Accugas.
Okono further highlighted concerns over the state’s plans to revitalize the Peacock Paint company in Etinan. He argued that no new investments should be made without a forensic audit into the N526 million previously invested during the Udom Emmanuel administration, which he described as a “monumental waste” due to corruption.
He called for accountability from those involved in managing the failed company, including AKICORP, insisting that funds unaccounted for should be refunded.
Okono concluded by stressing the importance of resolving these issues to ensure Akwa Ibom benefits fully from the deregulated power sector and other state-led initiatives.
