The Nigerian National Petroleum Company Limited (NNPCL), Akwa Ibom State government, and the Gas Aggregator Company Nigeria Ltd/GTE (GACN) have signed a landmark $3.5 billion Memorandum of Understanding (MoU) aimed at promoting gas industrialisation in Akwa Ibom State.
The deal was formalised on Monday during the opening session of the South-South Gas Utilisation Forum 2025 held in Uyo, Akwa Ibom State.
A statement by the NNPCL on Tuesday said the deal signalled the South-South geopolitical zone’s commitment to driving gas industrialisation for shared prosperity.
The event was attended by the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, alongside representatives from the Governors of Akwa Ibom, Cross River, and Rivers States.
Ekpo emphasised gas as a driver of sustainable growth and commended Governor Umo Eno for fostering a development-friendly environment in Akwa Ibom State.
The NNPC Ltd.’s delegation was led by the Executive Vice President, Upstream, NNPC Limited, Udy Ntia, who also served as the GACN Board Chairman, and the Executive Vice President, Gas, Power, and New Energy, Olalekan Ogunleye.
Ntia, highlighted NNPC Ltd.’s leadership in fostering partnerships to advance gas utilisation for Nigeria’s economic diversification and energy security.
The Managing Director of GACN, Chijioke Uzoho, and his team convened the forum to rally key stakeholders in the region toward catalysing holistic development through gas industrialisation.
The GACN recently held its AGM Dinner & Cultural Night on the sidelines of the South-South Gas Utilisation Forum in Uyo, where Ekpo delivered the opening address, emphasising gas as a driver of sustainable growth.
The State Commissioner, Ministry of Economic Development, Akwa Ibom State, Emem Bob, represented the State Governor, Pastor Umo Eno, reaffirmed regional commitment to gas-driven development.
The $3.5 billion investment would hi to support the development of vital gas infrastructure projects, including inter-county gas pipelines, offshore-to-land gas delivery systems, and a methanol plant.
The partnership is expected to create jobs and stimulate economic growth in the region.
The agreement would contribute to Nigeria’s energy security and economic diversification efforts.
