Ibom Power

Ibom Power Company Limited (IPC) is one of the first independent power plants in Nigeria. It was incorporated in 2001 as a private limited liability company under the Companies and Allied Matters Act (CAMA). In May 2008, the company received a 191MW license from the Nigerian Electricity Regulatory Commission (NERC) to generate electricity. In November 2015, NERC amended the license to increase Ibom power’s generating capacity from 191Megawatts to 685Megawatts to accommodate both the 191megawatts Phase 1 and the proposed 500megawatts Phase 2. Ibom power receives gas from Accugas, a subsidiary of Savanah Energy, based on a 10-year Gas Sales and Purchase Agreement (GSPA) through a Gas Processing Facility (GPF) at Uquo in EsitEket LGA and a Gas Receiving Facility (GRF) in Ikot Abasi. The plant output is evacuated to the national grid through a 49km 132kV transmission line from Ikot Abasi to Eket, 132/33kV substation. The Nigerian Bulk Electricity Trading Company Plc. (NBET) is the off-taker of the electricity produced by Ibom power plant. From inception, Ibom Power Company Limited has had three different Managing Directors. The pioneer MD, Mr. Gareth Wilcox, a Briton, led the company’s management from 2001 to May 2014. He was replaced by Dr. Victor Udo who led the company from June 2014 to 31st July 2016. Dr. Udo was replaced by the current MD, Engr. Meyen Etukudo who has led the company from the 1st of August 2016 to date. The highest decision making body at Ibom Power Company Limited is the Board of Directors. Engr. Etido Inyang is the Chairman of the Board of Directors while the Directors are Barr. Uwem Ekanem, Hon. Ayang Ayang, Hon. Emmanuel Ebe and Engr. Meyen Etukudo as the Managing Director/Chief Executive Officer.