John Kalu, the former Commissioner for Information, Trade, and Investment in Abia State, has strongly criticized Governor Alex Otti for his recent comments regarding the $3.56 million investment made by the previous administration in Aba Geometric Power. Kalu’s response comes after Otti questioned how the money borrowed during the previous administration was utilized.
In a statement released on Friday, Kalu highlighted that a portion of the borrowed funds was used to invest in Aba Geometric Power, a company owned by former Minister of Power, Barth Nnaji. Nnaji confirmed this investment in a letter addressed to Otti on February 28, 2024, and it was also documented in the handover note to Otti’s administration on May 29, 2023.
Governor Alex Otti’s spokesperson claimed to have received a letter from Prof. Barth Nnaji, acknowledging that the previous administration led by Dr. Okezie Ikpeazu had purchased a 3.5% equity stake in Geometric Power for the benefit of the people of Abia State. Despite attempts by Otti’s government to downplay the significance of this investment, Kalu emphasized that the current administration brought negative attention upon itself.
However, Kalu did not provide a detailed account of how the borrowed funds were utilized during Ikpeazu’s tenure. It is worth noting that the Aba Geometric Power plant, the first private independent and integrated power plant in the country with a capacity of 188 megawatts, was recently commissioned. This development holds the promise of providing 24-hour electricity supply to the city of Aba.
The involvement of both the current and previous administrations of Abia State in the Aba Geometric Power project has been a subject of controversy. As the debate continues, it remains essential to scrutinize the financial decisions and investments made by past and present leaders in the state.
