The Akwa Ibom State (AKS) Governor, Pastor Umo Eno, has officially commissioned Ibom Paints—formerly known as Peacock Paints—marking the commencement of commercial production at the factory after years of neglect.
The factory, which had been in the works for several years under previous administrations, was officially reopened on Wednesday, June 4, 2025 in Ikot Ekan, Etinan Local Government Area.
Governor Eno, who recommissioned the facility in the presence of top state officials, declared a state of emergency on the factory, stressing that there would no longer be a board of directors in order to ensure the plant’s smooth and sustained operation.
Instead, he appointed Mr. Ime Uwah as the sole administrator of the newly revamped Ibom Paints.
“I have declared a state of emergency on Ibom Paints with the appointment of a sole administrator, Mr. Ime Uwah. There will be no more Board and Board members but a sole administrator.
“He will run this factory because in the last three months he has produced results and I have looked at the account with records of profits and so we will have to continue in that trajectory,” the governor stated.
Shortly after assuming office in 2023, Governor Eno called for a comprehensive audit of all state-owned commercial enterprises, including Ibom Power, Ibom Air, and Ibom Paints.
In December 2024, he directed the Akwa Ibom State Investment Corporation (Akicorp) to oversee the immediate revitalization of the moribund state-owned paint company.
This renewed push followed years of attempts by the previous administration to bring the then Peacock Paints back to life.
At a recommissioning ceremony on September 5, 2015, former Governor Udom Emmanuel had announced a N526m allocation to reactivate the plant.
Under Emmanuel’s leadership, the state government renegotiated the company’s ownership with its former shareholders and settled a multimillion-naira debt owed to First Bank Plc.
This resulted in the state increasing its ownership from 15% to 100%.
Despite that, financial investigations later revealed the company was plagued by losses, corruption, and poor management.
According to TheMail, in 2019, the company posted sales of N48.36m while recording expenditures of N64.31m, indicating a significant loss.
On May 15, 2019, the Udom administration officially changed the company’s name from Peacock Paints to Ibom Paints Ltd., aiming to give the business a fresh start free from inherited liabilities.
Governor Eno has since made substantial investments in the project and pledged to return it to profitability.
“This is Akwa Ibom funds so we can’t dig a hole and be throwing it, in addition to that this is a legacy and we must sustain it.”he said during the commissioning.
Providing updates on the factory’s progress, Akicorp managing director Imaabasi Jacob noted:
“Your Excellency we have a [stock] pile of raw materials that can take us 6-8 months production without any disruption, We had to introduce quality assurance.
“We are glad to mention that this factory is certified by the Standards Organization of Nigeria, SON, we are also undergoing NESREA certification that will be done in no time. We have also involved rebranding.
“We designed a new brand, a new logo and maintained the state color because we want to send a signal to the rest of the world that Ibom brand is a brand to meet.
“We have discovered that there is a huge production line that can allow us in the next phase to do an industrial paint work, to produce marine paint for coating in the oil and gas industry and even car paints.”
Governor Eno pledged continued collaboration with Akicorp to ensure the success of Ibom Paints and other state-owned ventures.
He also announced the donation of a new pickup truck to the factory and directed all state contractors to patronize Ibom Paints.