In a major boost for regional energy development, the Nigerian National Petroleum Company Limited (NNPCL), the Akwa Ibom State Government, and the Gas Aggregation Company Nigeria Ltd/GTE (GACN) have entered into a $3.5 billion Memorandum of Understanding (MoU) to drive gas industrialisation efforts in the South-South region.
The landmark agreement was signed on Monday during the opening session of the South-South Gas Utilisation Forum 2025, held in Uyo, the Akwa Ibom State capital.
The event brought together key stakeholders from across the region, including the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, as well as official representatives from the state governments of Akwa Ibom, Cross River, and Rivers.
Leading the NNPCL delegation was Udy Ntia, Executive Vice President of Upstream at NNPCL and Chairman of the GACN Board. He was joined by Olalekan Ogunleye, Executive Vice President for Gas, Power, and New Energy at NNPCL, alongside Chijioke Uzoho, Managing Director of GACN.
According to a statement released by NNPCL on Tuesday, the agreement represents a collective step toward harnessing the gas potential of the South-South region to catalyse inclusive development and shared economic growth.
The gas forum, convened by GACN, served as a platform to align public and private sector players on the opportunities and strategies for expanding gas-based industrial activities in the region. The initiative underscores a growing emphasis on leveraging natural gas as a key driver of Nigeria’s economic diversification and long-term energy security.
Representing Akwa Ibom State Governor Umo Eno, the Commissioner for Economic Development, Emem Bob, reaffirmed the state’s commitment to using gas as a tool for industrialisation and job creation.
In his remarks, NNPCL’s Udy Ntia noted the importance of collaboration in achieving Nigeria’s gas ambitions, stating that the company remains focused on building strategic partnerships that can unlock the full value of the country’s abundant gas resources.
The forum also featured a cultural evening and annual general meeting dinner hosted by GACN, where Minister Ekpo delivered a keynote address emphasizing that gas remains central to sustainable economic growth and regional development.
