The Geometric Power Plant in Aba, Abia State, has sought to clear the air regarding the controversy surrounding the Abia State government’s equity stake in the project. According to the spokesperson for Aba Power Limited, Mr Chijioke Ogbodo, the state government holds a “three and a half per cent equity” in the $800 million power plant. This statement comes amid conflicting reports and statements from aides of former Governor Okezie Ikpeazu and the current Governor, Alex Otti, with initial denials of any equity for the state government and subsequent assertions of a five per cent investment.
The ongoing dispute further involves a lack of evidence to authenticate the claims, with Governor Otti’s Media Adviser, Mr Ferdinand Ekeoma, highlighting the absence of documents to support the equity stake. This clarification sheds light on the complexities of the investment scenario, emphasizing the need for transparency and concrete evidence in resolving the matter surrounding Abia State’s role in the Geometric Power Plant project.The Geometric Power Plant in Aba, Abia State, has clarified the controversy surrounding the Abia State government’s alleged equity stake in the project. Spokesman for Aba Power Limited, Mr Chijioke Ogbodo, stated that the state government holds “three and a half per cent equity” in the $800 million power plant. This clarification follows conflicting statements from aides of former Governor Okezie Ikpeazu and the incumbent Governor, Alex Otti, regarding the actual equity stake, with earlier denials of any equity for the state government in the project. The ongoing dispute involves contrasting claims about the investment, ranging from former Commissioner for Trade and Investment, Chief John Okiyi Kalu’s assertion of a five per cent equity to Governor Otti’s team expressing a lack of evidence to substantiate such claims.
