Ibom Power Company Limited (IPC) is one of Nigeria's first independent power plants. It was incorporated in 2001 as a private limited liability company under the Companies and Allied Matters Act (CAMA).In May 2008, the company received a 191MW license from the Nigerian Electricity Regulatory Commission (NERC) to generate electricity. In November 2015, NERC amended the license to increase Ibom Power’s generating capacity from 191 megawatts to 685 megawatts to accommodate both the 191 megawatts Phase 1 and the proposed 500 megawatts Phase 2.Its gas turbines run exclusively on natural gas. The Akwa Ibom State Government, in collaboration with Seven Energy (now Savannah Petroleum Company), initiated this project to harness the state's abundant natural gas reserves for power generation, marking a significant public-private sector partnership.