Aides Clash Over Abia State’s 5% Stake in Geometric Power: Accusations Fly Between Ikpeazu, Otti Camps

A brewing controversy has emerged between aides of Governor Alex Otti and his predecessor, Dr. Okezie Ikpeazu, revolving around Abia State’s alleged 5% equity share in Geometric Power Ltd.

The Chairman/CEO of Geometric Power Ltd, Prof. Barth Nnaji, claimed during a recent news briefing that the Ikpeazu-led government failed to remit their financial commitment to the project. Nnaji insisted he was awaiting payment on the proposed five percent equity from the state government.

In defense, Mr. John Okiyi-Kalu, former Commissioner for Information and Trade and Investment under Ikpeazu, asserted that the state government approved a $5 million investment in Geometric Power, representing a five percent equity share. Okiyi-Kalu emphasized that the state government intended to pay in naira, using the official exchange rate.

However, Special Adviser to Governor Otti on Media, Mr. Ferdinand Ekeoma, countered these claims. Ekeoma, addressing reporters in Umuahia, argued that no documents were received during the transition process indicating any cash commitment to Geometric Power. He highlighted a budget performance report indicating a transfer of N1.42 billion to the company’s account, acknowledging Prof. Nnaji’s request for the balance.

Ekeoma called on Prof. Nnaji to clarify his statement, emphasizing the significant support provided by the Ikpeazu-led government to Geometric Power.