HomePolitics‘You Lied’- Ikpeazu Tackles Otti Over $3m Stake In Geometric

‘You Lied’- Ikpeazu Tackles Otti Over $3m Stake In Geometric

Listen to article

Chief John Kalu who is the former Commissioner for Information, Trade and Investment under ex-Abia State governor, Okezie Ikpeazu’s government, has come down hard on Governor Alex Otti over his recent comment on the previous administration’s $3.56 million investment stake in Aba Geometric Power.

Kalu gave this response in a statement which was made available to The Eastern Updates on Sunday.

Recall that in a recent Channels Television interview, Otti wondered what Ikpeaze did with the money borrowed under his administration.

However, in reaction to Otti’s remark, Kalu said part of the money borrowed was the $3.56 million the then government invested in Aba Geometric Power, owed by former Minister of Power, Barth Nnaji.

Read Also: ‘Wike A Man Of Conviction, Character, Courage’ – Ikpeazu

He noted that Nnaji confirmed the investment in a letter to Otti on February 28 2024.

He added that the investment was in the handover note to Otti’s administration on May 29 2023.

“My attention has been drawn to a statement credited to Governor Alex Otti, through his spokesperson, that his government has received a letter from Prof Barth Nnaji, Chairman/CEO of Geometric Power, that the administration of Governor Okezie Ikpeazu paid at least $3.56 million to purchase stakes in the company for the people of Abia State.

“I have also privately sighted the letter written by Prof Barth Nnaji to Governor Alex Otti on February 28 2024, wherein he confirmed that the previous Abia State Government led by Dr Okezie Ikpeazu bought 3.5% equity in Geometric Power.

“While the government of Alex Otti is free to rigmarole to minimize the damage to its battered lying machinery, it must be noted that the government brought this public odium upon itself”, he said.

However, Kalu failed to fully explain how his principal spent all the money borrowed under his administration.

Recall that Aba Geometric Power plant, the country’s first private independent and integrated power plant with a 188-megawatt capacity, was recently commissioned, having the prospects of 24-hour electricity supply to the city.

Meanwhile, the contribution of current and previous administrations of Abia state to the project has been controversial.

The Eastern Updates

Most Popular

Recent Comments