A deepening audit dispute is at the heart of the worsening power crisis in Akwa Ibom State. An advocacy group, Open Forum, is calling on the state government to annul a controversial audit of the state-owned Ibom Power Company (IPC) and conduct a fresh, independent investigation.
The controversy dates back to 2023 when Governor Umo Eno signed a Memorandum of Understanding (MoU) with Savannah Energy, the company that supplies gas to IPC, to perform a technical audit of the power plant. The audit report was submitted to the governor in April 2024 but was immediately met with allegations of a severe conflict of interest, as the auditor was also the plant’s gas supplier. Critics say this arrangement violates international auditing standards.
Open Forum has also demanded the reinstatement of the company’s former Managing Director, Dr. Mayen Etukudo, who was sacked in November 2024 after making explosive revelations before the State House of Assembly. He alleged the company received no government funding despite annual budgetary allocations and that an $80 million federal intervention fund was missing.
“The power situation has gone from bad to worse since his removal,” said Matthew Okono, convener of Open Forum, who is calling for a full independent audit of IPC and all state-owned investments.
In response to the crisis, Governor Eno recently constituted a Power Reform Implementation Committee, but experts have criticized its composition, stating it lacks the technical capacity to address the complex challenges facing the sector.
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