Otti Tasks Parties To Be Open Minded, Fair, To Conclude The Acquisition Of EEDC in Abia

The Executive Governor of Abia State, His Excellency, Dr. Alex Chioma Otti, OFR, received in audience the top management of Interstate Electricity led by the Chairman, Sir Emeka Offor. The aim of the visit was to further discussions on the proposed acquisition of 60% of Interstate Electrics shares in Enugu Electricity Distribution Company (EEDC) in Abia State.

Abia State Government under Governor Alex Otti is actively working to repurpose EEDC assets in its favor. The goal is to intentionally improve access to electricity and delivery of reliable power across the State.

It is interesting to note that Abia State Government had formally submitted their 1st and 2nd bids to acquire 60% of EEDC’s assets in Umuahia‑zone which is targeting the eight LGAs in Abia North and parts of Abia central zones not already being served by Geometric Power. This is in line with the intentionality of Governor Otti’s commitment to improve the supply of electricity which will act as an economic stimulus across Abia North and parts of Abia Central Senatorial zones.

Speaking during the visit, Gov. Otti stated that the government is in advanced stages of negotiation with Interstate Electrics Limited, the majority shareholder of EEDC and is determined to finalize the transaction. He urged all parties to embrace fairness and open mind to ensure the successful closure of the transaction.

The Chairman of Interstate Electrics Limited, Sir Emeka Offor commended the Governor for his giant strides in the transformation of Abia State and stated that he is happy with the volume of developmental projects scattered across Abia State.

Presenting the response of Interstate Electrics Limited to Abia States bidding offers for the acquisition, the Managing Director of Interstate Electrics, Chief Okey Nwosu narrated the areas of discussions that must be considered to ensure that the parties finalize the acquisition .

The Hon. Commissioner for Power and Public Utilities, Engr. Ikechukwu Monday highlighted the vision of Abia State government to invest in power infrastructure to guarantee access to electricity in the State which is very critical for the State’s manufacturing and production drive.

In attendance during the meeting were, the Honourable Attorney General and Commissioner for Justice, Mr. Ikechukwu Uwanna, SAN, Hon. Commissioner for Finance, Mr. Uwaoma Ukandu, the Technical Assistant to the Governor, Mr. Charles Egonye, Director-General, Ministry of Finance Incorporated, Mr. Osinachi Nwaka and the Principal Secretary and Chief Strategy Officer of Abia State Government, Mr. Chinenye Mba-Uzoukwu.

Ctz. UKOHA, NJOKU UKOHA
Chief Press Secretary to the Executive Governor of Abia State.