NEWS
Abia Govt Concludes Negotiations to Acquire EEDC Assets as Interstate Electrics Accepts Offer
Abia State Government says it has successfully concluded negotiations to acquire 60% of the EEDC assets within the state, following the acceptance of its offer by Interstate Electrics.
The agreement automatically activates the next phase of transaction that will enable the Government to take charge of power generation, regulation, and distribution across the eight ring-fenced local government areas in Abia Central and North senatorial zones.
The Commissioner for Information, Prince Okey Kanu disclosed this while briefing newsmen in Umuahia, on the outcome of this week’s State Executive Council meeting chaired by Governor Alex Otti.
Cross section of Journalists at the Exco briefing
He said that the negotiation was in line with the government’s vision to strengthen the power sector in the state, in order to drive the economic development of Abia state.
“The long-anticipated bid to acquire 60% stake of EEDC assets in the state has come to fruition, with the acceptance of the state government’s offer by Interstate Electrics,” Kanu announced.
“With this laudable development, Abia State, particularly the eight local government areas that will be ring fenced under this arrangement, will experience a new lease of life with regards to their power needs.”
“As the transaction further unfolds, we will keep you duly informed of developments,” Prince Kanu assured.
In a related development, the Commissioner informed that the State Executive Council has approved the restoration of power supply to Ohafia, after many years of being in the dark.
He expressed the hope that when fully restored, development plans of the Greater Ohafia Development Authority would be enhanced.
The Commissioner announced that the state government has also awarded contracts for the construction of five new roads.
On Friday, October 24, two of the roads will be flagged -off for construction namely, the 25 km Umuahia/Ikot Ekpene road and the 13.1 km Ariam/Usaka ring road in Ikwuano LGA.
According to Prince Kanu, the rest of the roads set for construction are the 9.35km Ihechiowa/Arochukwu ring road, the 4.9km Isieketa-Mba Itungwa/Mgbedeala road, Isiala Ngwa South and the 3.72 km Ogidi/Umuala Eziama Ntigha road in Isiala Ngwa North LGA.
He noted that the construction of the roads aligned with the ongoing road infrastructural revolution of the present administration, adding that when completed, would open up the areas for business activities and development.
Contributing, the Commissioner for Power and Public Utilities, Ikechukwu Monday, explained that the state has been in discussions with Interstate Electric, who owns 60% of EEDC assets, in the state.
On the lingering Ohafia light issues, the Commissioner said the State government would be mobilising to site within the week.
“We have already started engaging the communities to provide support in partnership with Greater Ohafia Development Authority, GODA. So this project’s target is that we will be able to return electricity supply to Ohafia before the end of the year.”