Strong indications have emerged that Akwa Ibom State Governor, Chief Godswill Akpabio may have concluded arrangement to sell the Akwa Ibom State owned Ibom Power Plant, according to the latest edition of The Guide, a local publication.

According to the publications, the governor intends to exploit the virtual bankruptcy which the state has been bedeviled with in recent times, as a result of his reckless spending of state funds to sell the power plant to himself for the sum of 190Million Dollars using his friend, business associate and purported owner of an oil company whose name starts with the letter N as front.

“In the blind and ambitious estimation of the governor to emerge the most powerful politician in Nigeria, according to our source, Akpabio is confident that with his ownership of the power plant, he will be well positioned to continue his money politics.

“A government house source who spoke to a member of our investigating team said that Governor Akpabio has been stiff worried as to how to complete his so called mega projects. The source continued that it is the same Akpabio that raised an alarm in the early days of his administration that his predecessor and former boss, Arc. Victor Attah was on the verge of selling the same Ibom Power Plant to Globalek, a company Akpabio claimed was secretly promoted by Obong Attah.” The publication claimed

Further investigations have thrown up startling revelations that Akpabio’s front for the purchase of the power plant is the oil magnate. He is also the promoter of a company whom the governor awarded road contracts worth 10Billion Naira in Oruk Anam Local Government Area and about 3.5Billion Naira was paid up front.

But as at the time of filling this report, all the road works awarded this company in the area mentioned have been abandoned.

Another revelation which our reporters stumbled on is the fact that Akpabio through the said owner of Next Oil owns ten percent shares in Julius Berger and both of them (Akpabio and the Oil Magnate) are currently erecting a twenty two storey building on Akin Adesola street in Lagos as the headquarters of his ill acquired business empire.

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