- Deal Signals South-South’s Commitment To Driving Gas Industrialisation For Shared Prosperity
The Nigerian National Petroleum Company Limited (NNPC Ltd), Akwa Ibom State government, and the Gas Aggregator Company Nigeria Ltd/GTE (GACN) have signed a $3.5 billion Memorandum of Understanding on gas industrialisation in Akwa Ibom.
This signing was done on Monday at the opening session of the South-South Gas Utilisation Forum 2025 held in Uyo.
The event was attended by the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, alongside representatives from the Governors of Akwa Ibom, Cross River, and Rivers States.
The NNPC Ltd.’s delegation was led by the Executive Vice President, Upstream, NNPC Limited, Udy Ntia, who also serves as the GACN Board Chairman, and the Executive Vice President, Gas, Power, and New Energy, Olalekan Ogunleye.
The Managing Director of GACN, Chijioke Uzoho, and his team convened the forum to rally key stakeholders in the region toward catalysing holistic development through gas industrialisation.
According to a statement by the NNPCL on Tuesday, July 15, 2025 said the deal signalled the South-South geopolitical zone’s commitment to driving gas industrialisation for shared prosperity.
“The opening session culminated in the signing of a $3.5 billion Memorandum of Understanding between NNPC Ltd., GACN, and the Akwa Ibom State Government, signalling the South-South geopolitical zone’s commitment to driving gas industrialisation for shared prosperity” NNPC Ltd stated.
The GACN recently held its AGM Dinner & Cultural Night on the sidelines of the South-South Gas Utilisation Forum in Uyo, where Ekpo delivered the opening address, emphasising gas as a driver of sustainable growth.
The Commissioner, Ministry of Economic Development, Akwa Ibom State, Emem Bob, represented the State Governor, Pastor Umo Eno. He reinforced regional commitment to gas-driven development.
The Executive Vice President, Upstream, NNPC Ltd., Udy Ntia, who also serves as the GACN Board Chairman, highlighted NNPC Ltd.’s leadership in fostering partnerships to advance gas utilisation for Nigeria’s economic diversification and energy security.
Also in attendance were the NNPC Ltd.’s Executive Vice President, Gas, Power, and New Energy, Olalekan Ogunleye, and the Managing Director of GACN, Chijioke Uzoho.
