By Samuel Adeola
The Nigerian National Petroleum Company (NNPC), Limited has signed a $3.5 billion Memorandum of Understanding (MoU), with the Akwa Ibom State Government and the Gas Aggregation Company of Nigeria (GACN), to drive gas-based industrial development in the South-South region.
The deal was formalized during the opening of the 2025 South-South Gas Utilisation Forum held in Uyo, Akwa Ibom State.
NNPC said the agreement reflects the region’s strong commitment to leveraging its gas resources for industrial growth and economic advancement.
Present at the forum were the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, and representatives from the governors of Akwa Ibom, Cross River, and Rivers states.
NNPC’s delegation was led by Udy Ntia, Executive Vice President, Upstream and Chairman of GACN’s Board, along with Olalekan Ogunleye, Executive Vice President, Gas, Power and New Energy. GACN’s Managing Director, Chijioke Uzoho, hosted the event alongside his team.
“This MoU is a major step to bring development to the South-South through gas industrialisation,” a joint statement from the parties read.
