NNPCL, Akwa Ibom, GACN Seal $3.5bn Gas Industrialization Deal

The Nigerian National Petroleum Company Limited (NNPCL), Akwa Ibom State authorities, and Gas Aggregator Company Nigeria Ltd/GTE (GACN) have formalised a $3.5 billion Memorandum of Understanding focused on gas industrialisation within Akwa Ibom State.

The agreement was executed on Monday during the inaugural session of the South-South Gas Utilisation Forum 2025, taking place in Uyo. The ceremony drew participation from Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas), along with delegations representing the governors of Akwa Ibom, Cross River, and Rivers States.

NNPC Ltd.’s contingent was headed by Udy Ntia, Executive Vice President for Upstream Operations and GACN Board Chairman, accompanied by Olalekan Ogunleye, Executive Vice President for Gas, Power, and New Energy.

GACN’s Managing Director, Chijioke Uzoho, and his team organised the forum to mobilise regional stakeholders toward comprehensive development through gas industrialisation initiatives.

According to a Tuesday statement from NNPCL, the agreement demonstrates the South-South region’s dedication to advancing gas industrialisation for collective economic benefit.

GACN recently hosted its AGM Dinner & Cultural Night alongside the South-South Gas Utilisation Forum in Uyo, where Ekpo delivered opening remarks highlighting gas as a catalyst for sustainable development.

Representing Governor Pastor Umo Eno, Emem Bob, Commissioner for Economic Development in Akwa Ibom State, emphasised the region’s commitment to gas-powered development initiatives.

NNPC Ltd.’s Executive Vice President for Upstream Operations, Udy Ntia, who doubles as GACN Board Chairman, emphasised the company’s role in building partnerships that advance gas utilisation for Nigeria’s economic diversification and energy security objectives.

The gathering also included NNPC Ltd.’s Executive Vice President for Gas, Power, and New Energy, Olalekan Ogunleye, and GACN Managing Director Chijioke Uzoho.