Abia enters final stage of bid to acquire 60 percent of EEDC assets

High-level negotiations have taken place at the Government House, Umuahia, as Abia State moves into the final stages of its bid to acquire 60 percent of the Enugu Electricity Distribution Company (EEDC) assets within the state.

The meeting, which held earlier this week, was led by Governor Alex Otti on behalf of the Abia State Government, while the delegation from Interstate Electrics Limited—majority shareholder of EEDC—was headed by its Chairman, Sir Emeka Offor.

The proposed acquisition, according to the state government, is aimed at repurposing EEDC’s assets in Abia to significantly improve electricity access and ensure reliable power supply across the state. The focus of the bid is on the Umuahia zone, covering eight local government areas in Abia North and parts of Abia Central senatorial zones not already served by Geometric Power.

This initiative aligns with Governor Otti’s broader economic strategy to enhance power supply as a catalyst for industrial growth and economic revitalization across the targeted areas.

Speaking during the meeting, Governor Otti disclosed that negotiations with Interstate Electrics were at an advanced stage, and expressed the state’s determination to finalize the transaction. He appealed to all parties to approach the deal with fairness and an open mind to ensure a successful conclusion.

Responding, Sir Emeka Offor commended Governor Otti for his transformative leadership and acknowledged the extensive developmental projects ongoing across Abia State.

Presenting the company’s position on Abia’s bid, Chief Okey Nwosu, Managing Director of Interstate Electrics Limited, outlined key areas of discussion that must be addressed before the acquisition can be finalized.

In his remarks, the Abia State Commissioner for Power and Public Utilities, Engr. Ikechukwu Monday, reiterated the government’s vision to invest heavily in power infrastructure, describing it as essential to the state’s manufacturing and production agenda.

Details of the negotiations are expected to be made public in due course.