The Rivers Government says it approved the termination of the share sale contract for 70 per cent equity of the state-owned power generation assets in line with recommendations of the White Paper on the Report of the Judicial Commission of Inquiry for the Investigation of the past administration’s sale of Valued Assets of the state and other related matters.
The Judicial Commission of Inquiry was chaired by Justice George Omereji.
The state Commissioner for Information, Mr Emma Okah while addressing journalists after the State Executive Council meeting in Port Harcourt, said the contract held by First Independent Power Limited in Omoku, Afam, Trans-Amadi and Eleme Gas Turbines to NG Power-HPS Limited had been terminated.
The Commissioner said that the government also terminated the concession of the Rivers and Bayelsa State owned Olympia Hotel to Cenpropsaroten Hotel Management Limited.
He stressed that the State Government had also terminated the concession agreement between it and Kild concession Limited in respect of the construction of a Toll road and Secondary developments at Abonnema Wharf, Port Harcourt.
Okah said the decisions were part of the resolutions taken at the council meeting, presided over by Gov. Nyesom Wike at the Government House, Port Harcourt.
The Rivers information commissioner said that the three companies whose contracts and concessions were terminated, were subsidiaries of Sahara Energy Limited.
He said that the government had directed the Attorney –General and Commissioner for Justice, Mr Zaccheaus Adango, to take further steps as contained in the White Paper.