This study investigated the relationship between Ibom Power Company Limited (IPCL) and community development in Akwa Ibom State, focusing on IPCL’s role as a state-owned enterprise responsible for driving socio-economic growth through employment creation and Corporate Social Responsibility (CSR) initiatives. IPCL’s efforts included rural electrification, scholarships, school infrastructure development, and healthcare services. However, the company’s impact was hindered by institutional weaknesses, limited resources, and financial mismanagement, resulting in ongoing infrastructural deficits, persistent poverty, and slow economic progress in many host communities. Issues such as inconsistent project implementation, inadequate local investment, and weak community engagement further undermined developmental outcomes. The study population comprised selected communities from three local government areas Ikot Abasi, Eket, and Mkpat Enin covering a total population of 25,936 based on the 2006 census. These communities were strategically chosen for their demographic and socio-economic diversity. A descriptive survey design employing both qualitative and quantitative methods was adopted. Data were gathered through questionnaires, Focus Group Discussions (FGDs), and interviews, supplemented by secondary sources from academic and governmental publications. Using the Resource Dependence Theory as a framework, a sample size of 377 respondents was determined via Krejcie and Morgan’s table, with purposive and simple random sampling techniques employed out of which 369 were retrievd for final analyses. Findings showed that IPCL significantly contributed to community development through CSR, with statistical evidence supporting improvements in healthcare access (χ² = 702.31), economic empowerment through skill acquisition (χ² = 5197.17), educational support (χ² = 76.68), and infrastructural development (χ² = 70.27). FGDs confirmed positive community perceptions of IPCL’s impact. Nonetheless, financial constraints, regulatory challenges, and high community expectations sometimes limited the effectiveness of these programs. The study recommended enhancing partnerships with government, NGOs, and community leaders and instituting a transparent stakeholder engagement framework to better align CSR initiatives with community needs and ensure sustainability.