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.
The Rivers State Government also terminated the concession of the Rivers and Bayelsa State owned Olympia Hotel to Cenpropsaroten Hotel Management Limited.
The State Government further terminated the concession agreement between the Government of Rivers State and Kild concession Limited in respect of 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 the Rivers State Governor, Nyesom Ezenwo Wike on Friday at the Government House, Port Harcourt.
The three companies that had their 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 that 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 Governor Chibuike 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 Honourable Attorney General of the State to take further steps as contained in the White Paper.