January 15 2016 0comment


Dr. Udo
Victor Udo, Ph.D.     MD/CEO, Ibom Power

Dear Stakeholders (employees, customers, shareholders, regulators and fellow community members): Welcome to the year 2016!

Last year was a good year for Akwa Ibom State in general and Ibom Power Company (IPC) in particular. God blessed us with a continuity and consolidation administration under His Excellency, Mr. Udom Emmanuel.

We are now on the path to sustainable industrialization, new jobs and wealth creation. Ibom Power is a key player in this progress and the Governor’s vision to make our State a power exporting hub.

The year 2015 was not without challenges but we made significant strides as a corporate entity by transforming and stabilizing the company:

  • We received some debts owed to us by Federal Agencies
  • We stabilized Unit 3 and received license for expansion from 191MW to 685MW
  • We commenced the configuration and commissioning of Unit 2
  • We improved employee morale, asset utilization and debts payment
  • Ibom Power is now a key player in the Nigerian Power Industry!

Honourable members of the House Committee on Special Duties and the House Committee on Rural Development and Public Utilities visited the plant. Separately, both committees commended the transformation and repositioning of Ibom Power. Visiting Nigerian Navy Senior officials and Cadets also made similar observations. Several international investors toured the plant and expressed interest in the company.

As a Corporate Social Responsibility (CSR), we invested sufficient funds and restored grid power supply to Ikot Abasi after almost a year without power supply. We also distributed food items to widows across the State.

Consistent with our shared values, we concluded 2015 on a fun note with the celebration of our end of year party. Although the year 2016 is expected to be challenging, we plan to:

  • Increase available capacity from 115MW to at least 150MW
  • Complete key agreements and contracts expected in the industry
  • Continue increasing revenue and capacity building
  • Support government privatization process of Ibom Power

These are not easy goals but with the support of His Excellency, the Executive Governor and you, our Stakeholders, we will accomplish these and more. Together, we will make Ibom Power the best power generation company consistent with our sense of mission.

Thank you for your continued support! Happy New Year!!

Source: Ibom Update

Ibom Update



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