The Rivers State Government has approved the termination of the share sale contract for the sale of 70-percent equity of the state government-owned power generation assets held by First Independent Power Limited in Omoku, Afam, Trans-Amadi and Eleme Gas Turbines to NG Power-HPS Limited.
Also terminated was the Olympia Hotel owned between Rivers and Bayelsa States, which is being run by Cenpropsaroten Hotel Management Limited.
The state government further terminated the concession agreement between the Government of Rivers State and Kild Concession Limited, with respect to the construction of a toll road and secondary developments in Abonnema Wharf, Port Harcourt.
These were part of resolutions at the State Executive Council meeting presided over by Nyesom Wike, Governor of Rivers State, on Friday at the Government House in Port Harcourt.
According a statement by Simeon Nwakaudu, Special Assistant to the Rivers State Governor on Electronic Media, the three companies involved in the contracts/concessions terminated are subsidiaries of Sahara Energy Limited, used by the immediate past Rivers State Governor, Rotimi Amaechi, to acquire state assets.
Briefing journalists after the State Executive Council meeting, Information and Communication Commissioner, Emma Okah, said the state government arrived at the resolutions in line with yet-to-be-implemented recommendations of the White Paper on the Report of the Judicial Commission of Inquiry for the investigation of the administration of former Governor Rotimi Amaechi on the sale of valued assets of Rivers State and other related matters, under the chairmanship of Justice George Omereji.
The Rivers State Government directed the Attorney General of the state to take further steps as contained in the White Paper.