On further Clarifications by the Commissioner for Power and Public Utilities concerning the raging 60% acquisition of EEDC.
The clarifications contained in the release by the Honourable Commissioner for Power and Public Utilities, Engr. Ikechukwu Monday yesterday is clear, unambiguous and well understood. His statement that due technical diligence is being carried out on the dilapidated infrastructure being used by the EEDC to distribute darkness in the State, as part of ongoing negotiations to acquire 60% stakes of Interstate Electrics in EEDC is different from what we read from the CPS that Abia state has acquired 60% of EEDC holding.
Also understanding this release further, acquiring 60% stakes of Interstate Electrics Limited in the EEDC total holding means Interstate Electrics will be completely divested from the EEDC structure thereby reverting entire ownership of the “Abia ring fence island” to Abia State. This position is a welcome development and completely assuage my and other’s concerns captured in my earlier posts on the subject matter about possibly entering a toxic relationship with Interstate Electrics Limited through the back door channel of EEDC bad example.
This explanation by the Honourable Commissioner is consistent with my assertions that Abia state should contextualize the option of building a brand new distribution network system from the ruins of EEDC outdated and disused infrastructure going into the future. I had also in my last article submitted my approximate estimate for building a brand new distribution network across the proposed “Abia ring fence island” at roughly $25 million USD. This figure is based on my earlier study for a foreign investor working on same power distribution project as a business model to rescue our state from power darkness.
I welcome some of these moves by the state government to change the electricity supply power narratives which are largely consistent with most of my earlier positions that sparked what I may characterize as healthy debates on the subject matter. Let us all continue to stand tall for the development of our state.
Dr. Engr Odo Ijere
