The Nigerian National Petroleum Company Limited (NNPCL), the Akwa Ibom State Government, and the Gas Aggregator Company Nigeria Ltd/GTE (GACN) have signed a $3.5 billion Memorandum of Understanding (MoU) aimed at accelerating gas industrialisation in Akwa Ibom State.

The landmark 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 event drew high-profile participants including the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, as well as representatives from the governments of Akwa Ibom, Cross River, and Rivers States.

The NNPCL delegation was led by its Executive Vice President, Upstream, Udy Ntia, who also serves as Chairman of the GACN Board. He was joined by NNPCL’s Executive Vice President, Gas, Power, and New Energy, Olalekan Ogunleye.

Also present was the Managing Director of GACN, Chijioke Uzoho, whose team convened the forum to rally regional stakeholders around the vision of using natural gas to drive economic transformation.

According to a statement issued by NNPCL on Tuesday, the MoU underscores the South-South geopolitical zone’s firm commitment to gas-led industrialisation as a pathway to sustainable development and shared prosperity.

Speaking at the forum’s AGM Dinner & Cultural Night, Minister Ekpo described gas as a cornerstone for sustainable growth and national development.

Representing Akwa Ibom State Governor Pastor Umo Eno, Commissioner for Economic Development, Emem Bob, reaffirmed the state's resolve to leverage its natural gas potential for inclusive economic growth.

In his remarks, Udy Ntia emphasized NNPCL’s dedication to forging strategic partnerships that advance Nigeria’s economic diversification agenda and enhance national energy security.

The Uyo forum marks another key milestone in Nigeria’s broader push to optimise gas utilisation across the country, especially in regions rich in untapped natural resources.