Akwa Ibom State Government has signed a Memorandum of Understanding with Savannah Energy Nigeria, for an operational audit of the state-owned electricity generating firm, Ibom Power Company.
The State Governor, Pastor Umo Eno, sealed the deal at the Government House, Uyo, the state capital to ensure improved power generation and distribution.
Governor Umo Eno explained that the Memorandum of Understanding with Savannah Energy Nigeria was premised on the need for an unbiased audit to resolve inherent issues and ensure that the state gets dividends out of investments made by the government over time to increase the state’s internally generated revenue potential.
Governor Eno reaffirmed his directive that the Akwa Ibom Investment Corporation manages all State Government Investments, 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.
Managing Director and Chief Executive Officer, Savannah Energy, Pade Durotoye, said his company was delighted with the state government’s energy partnership, assuring of his company’s commitment to supporting the state’s energy drive towards improved internally generated revenue and economic development.
