A major milestone for gas-powered economic transformation was achieved at the South-South Gas Utilisation Forum 2025 held in Uyo, Akwa Ibom State, with the signing of a landmark $3.5 billion Memorandum of Understanding between the Nigerian National Petroleum Company Limited, the Gas Aggregation Company of Nigeria and the Akwa Ibom State Government.
The high-level forum attracted the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, alongside representatives of the governors of Akwa Ibom, Cross River, and Rivers States signaling stronger regional cooperation in advancing Nigeria’s gas industrialization agenda.
NNPC Ltd. was represented by Udy Ntia, Executive Vice President, Upstream and GACN Board Chairman, and Olalekan Ogunleye, Executive Vice President, Gas, Power, and New Energy.
GACN’s Managing Director, Chijioke Uzoho, was also instrumental in bringing stakeholders together for the discussion.
The signing of the $3.5bn MoU was the event’s highlight, with the agreement expected to unlock the South-South region’s gas potential to drive industrial growth, job creation, and broader economic development.
Speaking at the opening session, Ekpo emphasised the Federal Government’s commitment to utilising Nigeria’s massive gas reserves for national prosperity, particularly in the South-South area, which contains some of the country’s most valuable energy resources.
Representing the Akwa Ibom State Governor, Commissioner for Economic Development, Emem Almond Bob, echoed the region’s dedication to gas-led development.
Udy Ntia, also speaking in his capacity as GACN Board Chairman, emphasized NNPC Ltd.’s ongoing role in forging partnerships that promote gas utilisation as a pathway to economic diversification and energy security.
The governor described the MoU and investment package as “a strategic leap toward energy-led prosperity,” and applauded President Bola Tinubu for his commitment to advancing gas development in the country.
“Akwa Ibom is committed to creating an enabling environment for investment, ensuring adherence to environmental standards, and delivering tangible benefits to our host communities,” the governor stated.
SOURCE: thepointng.com
