New Hampshire Capital will invest N2 billion in the Akwa Ibom State electricity market, with a focus on expanding metering infrastructure and developing electricity cooperatives to enhance access, reliability, and sustainability of power supply across the State.

The announcement followed the company’s participation at the Akwa Ibom State Electricity Summit 2025 held in Uyo. The summit, themed: “Attaining Energy Security and Universal Access for Akwa Ibom State,” brought together senior policymakers, investors, regulators, and energy sector stakeholders to chart a viable pathway for the state’s electricity market.

Delivering a paper titled: “The Ideal Role for the Akwa Ibom State Government in the State Electricity Market,” the Managing Director of New Hampshire Capital, Odion Omonfoman, reaffirmed the company’s commitment to partnering with the Akwa Ibom State Government to strengthen the newly established electricity market through strategic investments and technical collaboration.

According to Omonfoman, “New Hampshire Capital’s N2 billion commitment underscores our belief in Akwa Ibom’s bold steps toward energy independence. We are investing in metering systems and community-led electricity cooperatives to ensure that power supply becomes reliable, affordable, and sustainable for all, from urban centers to the most remote communities.”

The investment, he explained, will support comprehensive metering programmes aimed at ensuring transparency, eliminating estimated billing, and improving revenue assurance within the state’s electricity value chain. It will also drive the development of electricity cooperatives that empower local communities, urban, peri-urban, and rural, to manage their own electricity needs under structured and sustainable frameworks aligned with Akwa Ibom’s Electricity Law and Policy.

New Hampshire Capital said its broader vision is to promote electricity cooperatives as a cornerstone of last-mile power delivery across Nigeria’s emerging subnational electricity markets, bridging service gaps and stimulating local economic growth.

“Electricity cooperatives represent the future of community energy governance. They allow citizens to become active participants, not just consumers, in the electricity value chain. Through our partnership with the Akwa Ibom State Government, we aim to demonstrate how public-private-community collaboration can achieve true energy access for all,” Omonfoman added.

The firm reaffirmed its readiness to work closely with the Akwa Ibom State Government, the Akwa Ibom State Electricity Regulatory Commission (AKSERC), and other key institutions to actualize this vision.