THE COMPANY
WHO WE ARE
Ibom Power Company Limited (IPC) is one of the first independent power plants in Nigeria. Akwa Ibom Investment Corporation (AKICORP), the investment arm of the Akwa Ibom State Government, incorporated Ibom Power in January 2001 as a private limited liability company under the Companies and Allied Matters Act (CAMA).
The plant’s output is evacuated to the national grid through a 49 km, 132 kV transmission line from Ikot Abasi to the 132/33 kV substation in Eket. Commercial operations at Ibom Power commenced on December 14, 2009, with GT1 (Frame 6B), while GT3 (Frame 9E) went on-grid on July 11, 2010.
Ibom Power receives gas from Accugas, a subsidiary of Savannah Energy, based on a 10-year Gas Sales and Purchase Agreement (GSPA) through a Gas Processing Facility (GPF) at Uquo in Esit Eket LGA and a Gas Receiving Facility (GRF) in Ikot Abasi.
In May 2008, the company received a 191MW license from the Nigerian Electricity Regulatory Commission (NERC) to generate electricity. NERC amended the license in November 2015 to increase Ibom Power’s generating license capacity from 191 megawatts to 685 megawatts to accommodate both the 191-megawatt Phase 1 and the proposed 500-megawatt Phase 2.
From its inception, the leadership baton at Ibom Power Company Limited has passed from the pioneer MD, Mr. Gareth Wilcox, a Briton who led the company’s management from 2001 to May 2014, to Dr. Victor Udo, who served as MD from June 2014 to July 31, 2016.
Dr. Udo was succeeded by Engr. Meyen Etukudo, who led the company from August 1, 2016, to November 14, 2025. Engr. Etukudo was then succeeded by Engr. Camillus Umoh, who has been at the helm of Ibom Power’s affairs from November 14, 2025, to date.
The highest decision-making body at Ibom Power Company Limited is the Board of Directors. Engr. Etido Inyang is the current Chairman of the Board, while the Directors are Barr. Uwem Ekanem, Hon. Ayang Ayang, Hon. Emmanuel Ebe, and Engr. Camillus Umoh, who serves as the Acting MD/CEO.
Founding Philosophy
To become and remain the best growth-oriented and innovative power-generating company in Nigeria, ensuring steady dividend payments, driven by excellent employee incentives, customer satisfaction, and strong corporate governance.
VISION
To provide steady and profitable power generation services in Akwa Ibom State and Nigeria through public-private partnerships.
In May 2008, the company received a 191MW license from the Nigerian Electricity Regulatory Commission (NERC) to generate electricity. NERC amended the license in November 2015 to increase Ibom Power’s generating license capacity from 191 megawatts to 685 megawatts to accommodate both the 191-megawatt Phase 1 and the proposed 500-megawatt Phase 2.
Gas Supply
Ibom Power’s gas turbines operate solely on natural gas as the driving fuel. Consequently, Akwa Ibom State Government and Seven Energy (now owned by Savannah Petroleum Company) collaborated to develop the first public-private sector-driven initiative aimed at utilizing the abundant natural gas reserves in Akwa Ibom State for power generation. Based on this premise, Ibom Power Company Limited executed a 10-year Gas Sales and Purchase Agreement (GSPA) with Accugas, a subsidiary of Seven Energy, in May 2009.
The natural gas is transported to the Ibom Power plant via a 62 km gas pipeline from the Gas Processing Facility (GPF) at Uquo in Esit Eket Local Government Area to a Gas Receiving Facility (GRF) at the Ibom Power plant in Ikot Abasi. The first commercial delivery of gas from the Uquo Field to the Ibom Power plant commenced in January 2014, marking a major milestone for Seven Energy (now Savannah Petroleum) and Nigeria’s power sector as a whole.
The Uquo Gas Processing Facility remains the sole source of gas supply to the Ibom Power plant.
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