Nelson Utip
The government of Akwa Ibom , Nigerian National Petroleum Company LTD (NNPC) and the Aggregator Company of Nigeria (GACN) have signed a $3.5billion gas deal aimed at promoting domestic gas development.
The state Governor, Umo Eno, The Minister of state (Gas), Ekperikpe Ekpo and the NNPC’s Executive Vice President (Gas), Mr. Olalekan Ogunleye are part of the MoU.
The Governor was represented by his Deputy Akon Eyakenyi who led the state’s delegation to the ongoing South-South Gas Utilization Forum holding at The Ibom Hotel and Golf Resort, Uyo. He described the MoU and investment package as “a strategic leap toward energy-led prosperity.”
In his speech, The Governor commended President Bola Tinubu for his commitment to gas development in Nigeria, he appreciated the Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, leaders of the industry stakeholders, and participants, for their dedication in translating the President’s vision into action.
Governor Eno highlighted the aim of the summit which is to renew collective resolve to harness gas for industrialization, domestic energy use, economic growth, and inclusive development.
“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.
In his speech at the occasion, The Minister of State for Petroleum Resources (Gas), Rt. Hon. Obongemem Ekperikpe Ekpo was full of praises for Governor Eno’s leadership and described the summit as a milestone in Akwa Ibom’s journey toward becoming an energy and industrial powerhouse.
“This is more than a meeting—it is a declaration of intent and a roadmap to gas-based prosperity. Governor Eno’s vision aligns perfectly with President Bola Ahmed Tinubu’s Gas to Prosperity – Renewed Hope Agenda.” The Minister said.
He further noted that although the South South Region of Nigeria remains the heart of Nigeria’s gas production, it must now evolve from a resource base to a center of value addition, innovation, and inclusive growth.
Ekpo also emphasized the need to develop industries such as petrochemicals, fertilizers, modular refineries, and compressed natural gas (CNG)-powered transport systems.
Emphasizing the importance of inclusive development, the minister highlighted the provisions of the Petroleum Industry Act (PIA) 2021—particularly the establishment of the Host Communities Development Trust (HCDT), which gives a mandate to oil and gas companies to contribute three per cent of their annual operational expenditure toward the development of host communities in education, healthcare, infrastructure, and economic empowerment.
“This is in line with our call for communities to be co-owners, not just spectators, in the energy development process.” Ekpo added.
Olalekan Ogunleye The Executive Vice President of NNPC in his speech provided details on the investment, he stated that the $3.5 billion commitment will support the development of vital gas infrastructure projects these include an inter-county gas pipeline, offshore-to-land gas delivery systems, a methanol plant, a fertilizer plant, and a floating Liquefied Natural Gas (LNG) facility.
The Akwa Ibom State government was represented by the Secretary to The Akwa Ibom State Government Prince Enobong Uwah and the Hon Attorney General and Commissioner for Justice, Uko Udom SAN in the signing of The MoU.
The MoU further commits both parties to promote domestic gas-based industries through transparent and commercially viable access to gas supply. It also supports the development of virtual pipeline solutions—such as Compressed Natural Gas (CNG), Liquefied Petroleum Gas (LPG), and LNG—for both industrial and domestic use.
With the signing of the MoU and NNPC’s $3.5 billion investment commitment, Akwa Ibom State is now a major component of Nigeria’s gas revolution and a key player in the Federal Government’s Gas to Prosperity agenda.
