The Nigerian National Petroleum Company Limited (NNPCL), in partnership with the Akwa Ibom State Government and Gas Aggregation Company Nigeria Ltd/GTE (GACN), has signed a $3.5 billion Memorandum of Understanding (MoU) to boost gas industrialisation in the South-South region.
The agreement was formalised on Monday during the opening session of the South-South Gas Utilisation Forum 2025 held in Uyo, the Akwa Ibom State capital.
The forum brought together key stakeholders including the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, as well as representatives from the governments of Cross River, Rivers, and Akwa Ibom States.
The NNPC Ltd delegation was led by Udy Ntia, Executive Vice President, Upstream, who also chairs the GACN Board, alongside Olalekan Ogunleye, Executive Vice President, Gas, Power, and New Energy. GACN Managing Director Chijioke Uzoho also played a leading role in organising the forum.
In a statement issued by NNPCL on Tuesday, the company described the MoU as a significant step toward leveraging the region’s gas potential for economic diversification and industrial growth.
“The deal signals the South-South geopolitical zone’s commitment to driving gas industrialisation for shared prosperity,” the statement read.
Speaking during the forum, Minister Ekpo reaffirmed the federal government’s commitment to deploying gas as a central pillar of Nigeria’s energy transition and sustainable economic development.
The Akwa Ibom State Governor, Pastor Umo Eno, represented by the Commissioner for Economic Development, Emem Bob, said the state was ready to collaborate with investors to unlock gas-based opportunities and create jobs.
Udy Ntia noted that NNPCL’s role in fostering public-private partnerships remains critical to achieving energy security and industrial competitiveness.