Rivers Govt Terminates Sale of State-owned Power Plants to Tonye Cole’s Companies

Tonye Cole

By Ernest Chinwo in Port Harcourt

The Rivers State Government has announced the termination of the share sale contract for the 70 per cent equity of the State Government-owned power generation assets held by First Independent Power Limited in Omoku, Afam, Trans-Amadi and Eleme Gas Turbines to NG Power-HPS Limited. 

The government also terminated the concession of the Rivers and Bayelsa State-owned Olympia Hotel to Cenpropsaroten Hotel Management Limited.

The State Government further terminated the concession agreement between the Government of Rivers State and Kild Concession Limited in respect of the construction of a Toll road and Secondary developments in Abonnema Wharf, Port Harcourt. 

These were part of resolutions at the State Executive Council meeting presided over by the Rivers State Governor, Nyesom Wike yesterday at the Government House, Port Harcourt. 

The three companies that had their contracts/concessions terminated are subsidiaries of Sahara Energy Limited, allegedly used by the immediate past Rivers State Governor and Minister of Transportation, Chibuike Amaechi, to acquire state assets.

Sahara Energy Limited is owned by the gubernatorial candidate of the All Progressives Congress (APC), Tonye Cole.

Briefing journalists after the State Executive Council meeting, Information and Communication Commissioner, Emma Okah, said the State Government arrived at the resolutions in line with yet-to-be-implemented recommendations of the White Paper on the Report of the Judicial Commission of Inquiry for the Investigation of the administration of Governor Chibuike Amaechi on the sale of Valued Assets of Rivers State and other related matters under the chairmanship of Justice George Omereji. 

The Rivers State Government directed the Honourable Attorney General of the state to take further steps as contained in the White Paper. 

But reacting to the development, Director, Strategic Communications of Tonye Cole Campaign Organisation, Prince Tonye Princewill, said the action of the state government was a panicky measure to victimise the APC governorship candidate.

His words: “This may be a surprise to some, but not me. This is the vindictive nature of the politics we play today and the reason why many who can salvage our analog politics stay away.

“We’ve said it before that politics is too important to be left to politicians, so the Tonye Coles of this world should have no fear. The old way is going and the old style politicians know it. My surprise is it took this long.

“I can only imagine that now Wike knows that Tonye Cole will be confirmed as his opponent, he can no longer hide his frustration. What he fails to appreciate is that no serious businessman will want to do business with Rivers State.

 All this from a state with the highest level of unemployment in Nigeria and IGR untapped. Yet we wonder why insecurity remains.”