The Management of the Geometric Power Plant Aba has moved to address the ongoing controversy surrounding the purported stake of the Abia State Government in the esteemed power project.
In a bid to offer clarity, Mr. Chijioke Ogbodo, the spokesperson for the power entity, has stated unequivocally that the Abia State Government maintains a 3½% equity in the $800 million power plant. This declaration seeks to quell the recent discord stemming from conflicting assertions made by representatives of former Governor Okezie Ikpeazu and those of the incumbent Governor, Alex Otti.
The imbroglio was exacerbated following assertions by Prof. Nnaji, suggesting the absence of any investment by the Abia State Government in the project. However, former Commissioner for Trade and Investment during the Ikpeazu administration, Chief John Okiyi Kalu, vehemently refuted this claim, saying the previous administration made a payment of $3.56 million to Geometric Power through Stanbic Bank.
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Kalu further advanced the position that Ikpeazu’s administration had allocated 5% equity in the project. Conversely, Mr. Ferdinand Ekeoma, the media adviser to Governor Otti, rebutted these contentions, citing a lack of tangible evidence to substantiate the claims. Ekeoma said that the previous administration failed to disclose any such investment in the handover documentation provided to Governor Otti.
In response, Commissioner for Information, Prince Okey Kanu, reiterated the State Government’s commitment to conducting comprehensive inquiries to ascertain the veracity of the purported investment. However, the conflicting narratives have left many stakeholders and observers questioning the true extent of Abia State’s involvement in the Geometric Power project.
The Geometric Power Plant Aba, a privately-driven initiative, aims to generate a robust 188 megawatts of power, with 100 megawatts earmarked for distribution within the nine Local Government Areas comprising the Aba re-fenced area. The surplus capacity, totaling 88 megawatts, is intended for export to the national grid, thereby holding the promise of ameliorating power deficits in Aba and its environs.
During the formal inauguration of the project in February 26, Owner Professor Barth Nnaji avowed to ensure a consistent power supply to Aba, contingent upon a steady gas supply to the plant. The Geometric Power Plant Aba stands as the largest single investment in the South East, eliciting optimism for a transformative power paradigm in the region.
The recent disclosure of a formal communication, reportedly addressed to Governor Alex Otti from the Chairman/CEO of Geometric Power corroborates the previous administration’s payment for a 3.5% equity stake, amounting to $3.56 million in the company. However, Governor Otti, during a televised interview with Channels Television, professed a lack of evidence regarding the state’s investment in the Geometric Power Aba project.
In response, Kalu underscored that the transaction was meticulously recorded in the handover documentation provided to Governor Otti and was further detailed in the state’s 2022 financial report disseminated during the Otti administration. He expressed incredulity over Governor Otti’s disavowal of the investment’s existence, insinuating a possible discrepancy between his statements and documented evidence.
The leaked correspondence from Prof. Barth Nnaji to Governor Otti, confirming Abia’s financial commitment to the project, has precipitated a chorus of queries regarding the transparency and accountability of the current administration. The glaring disparity between Governor Otti’s public proclamations and the documented evidence has engendered widespread skepticism regarding the stewardship of state investments.
As discussions continue regarding Abia State’s involvement in the Geometric Power Plant, stakeholders, and citizens eagerly anticipate additional clarity from the government to clear up the existing uncertainty surrounding this crucial infrastructure project.