Despite the investments made by the Akwa Ibom State Government in the power sector, it is not getting commensurate returns as only 20 per cent of the invoice is being paid by the federal government to the state.
Chairman of Ibom Power Company, Engr. Etido Inyang who hinted this in an interview in Uyo, also stated that not all the power generated by Ibom Power estimated at about 90MW could be evacuated into the national grid due to poor energy infrastructure.
But he said that the state government was in constant touch with the federal government to improve the facilities needed to evacuate power from the generating plant.
On the second phase of the Ibom power project, he said two companies have been shortlisted as potential investors after due diligence has been carried out on the various firms that indicated interest in the project.
He harped on the urgent need for a Power Purchase Agreement between the Ibom power company and the federal government.
Inyang said the investment in the power sector made by the Akwa Ibom State government is to ensure affordable and sustainable electricity supply that will fast-track its industrialisation drive.
“The vision of the state government is to encourage industrialisation and the investment in the power sector has enabled the state government to attract many industries to the state,” he stressed.
Recently, the state in partnership with the Transmission Company of Nigeria (TCN) and the Port Harcourt Power Distribution Company inaugurated a 2×15 MVA injection substation in Uyo, the state capital to ensure regular power supply within the state capital.
Currently, it is erecting a 2×60 MVA substation in Ekim, Mkpat Enin local government as part of the strategic investment to boost electricity supply in five local government areas of the state including the Ikot Abasi industrial hub.
The local government areas to benefit from the Ekim power substation include Oruk Anam, Ikot Abasi, Onna, Mkpat Enin and Eastern Obolo.
Inyang who said that the state government was in the process of fixing one of the broken down power turbines at the Ibom power plant in Ikot Abasi, also said that another 30KVA transformer was being provided to facilitate power supply to Ikot Abasi town which had been without electricity for years.
“For the Ekim power substation, it is strategic being that gas which is the source of raw materials for power generation is found in the area, there is no way the state government could have succeeded in its industrial agenda without regular power supply,’’ he said.
He reiterated the commitment of the state to pursue its power for all initiative maintaining that currently parts of the state are enjoying between 18 to 20 hours of power supply daily while the plan to ensure 24 hours supply would be achieved when the critical energy infrastructure would be fixed.