Otti, Interstate Electrics Deepen Talks on 60% EEDC Acquisition to Boost Power Supply in Abia

The Executive Governor of Abia State, His Excellency Dr. Alex Chioma Otti, OFR, on Wednesday received the top management team of Interstate Electrics Limited, led by its Chairman, Sir Emeka Offor, at the Government House, Umuahia. The meeting focused on advancing discussions over the proposed acquisition of a 60% stake in the Enugu Electricity Distribution Company (EEDC) assets in Abia State.

Governor Otti reiterated his administration’s commitment to repurposing EEDC assets to improve electricity access and ensure a steady and reliable power supply across the state. He disclosed that the state government had already submitted two formal bids to acquire 60% of EEDC’s Umuahia zone assets, targeting eight local government areas in Abia North and parts of Abia Central not currently served by Geometric Power.

He emphasized that negotiations with Interstate Electrics Limited, the majority shareholder in EEDC, were at an advanced stage. The Governor called on all stakeholders to remain open-minded and fair to enable the successful conclusion of the transaction, which he described as critical to the state’s economic revitalization.

Responding, the Chairman of Interstate Electrics, Sir Emeka Offor, commended Governor Otti for the remarkable developmental strides under his administration, expressing satisfaction with the volume of visible infrastructure projects across the state.

The Managing Director of Interstate Electrics, Chief Okey Nwosu, also presented the company’s formal response to the state’s bid, outlining key considerations that must be addressed to finalize the acquisition.

Highlighting the strategic importance of the initiative, the Commissioner for Power and Public Utilities, Engr. Ikechukwu Monday, stated that the state government’s power infrastructure drive is central to enhancing industrial productivity and economic growth.

Other key government officials present at the meeting included the Honourable Attorney General and Commissioner for Justice, Mr. Ikechukwu Uwanna, SAN; Commissioner for Finance, Mr. Uwaoma Ukandu; 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 to the Governor, Mr. Chinenye Mba-Uzoukwu.