Tuesday, September 20, 2011

Akwa Ibom Pulls Out of Amakpe Refinery Project, Demands U.S.$8.5million From Promoters

Daily Trust
15 September 2011

Uyo — The Akwa Ibom State government said yesterday that it is no longer part of the Amakpe refinery project. Governor Godswill Akpabio, who made the disclosure while addressing newsmen in Uyo, said the state pulled out of the deal because its promoters, Chief Usua Amanan and Helen Ikpe lack the capacity and wherewithal to actualize the project.

The governor, who spoke through his deputy, Nsima Ekere H, said the state has ordered the refund of $8.5 million, which was what it invested in the project. He maintained that if the money is not refunded, the government would have no option, but to seek the intervention of anti-graft agencies both locally and abroad. He lamented that the promoters of the projects are not only insincere, but lack the ability and capacity to realize a multi million naira project such as the Amakpe refinery.

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