The Nigerian National Petroleum Company (NNPC) Ltd., in partnership with the Gas Aggregation Company of Nigeria (GACN) and the Akwa Ibom State Government, on Tuesday signed a $3.5 billion Memorandum of Understanding (MoU) to accelerate gas industrialisation across the South-South region.

The agreement was formalised during the opening session of the South-South Gas

Utilisation Forum 2025 in Uyo, Akwa Ibom State. According to NNPC, the deal underscores the region’s determination to transform its vast gas reserves into economic opportunity and industrial prosperity.

“This MoU signals the South-South geopolitical zone’s commitment to driving gas industrialisation for shared prosperity,” the national oil company said in a statement.

The event drew high-level participation, including the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, and representatives of the governors of Akwa Ibom, Cross River, and Rivers states.

In a separate statement on X, Ekpo described the event as “more than official,” calling it deeply personal due to his Akwa Ibom roots.

“As an indigene of Akwa Ibom, I am proud to witness this convergence of visionaries committed to gas-powered prosperity,” he said.

He lauded Akwa Ibom Governor Umo Eno for fostering a development-friendly environment and praised GACN for its role in catalysing the initiative.

“This is a defining moment for the South-South. We have the gas reserves, the will, and now the platform,” Ekpo said. “Let’s turn gas into jobs, industries, and inclusive growth.”

He highlighted ongoing national efforts including the Decade of Gas policy, LPG penetration programmes, the AKK and OB3 pipelines, and the Petroleum Industry Act (PIA) as crucial steps toward Nigeria’s energy transformation.

The minister urged stakeholders to move beyond dialogue, “This is our chance to lead not just a regional conversation, but a national transformation.” (AriseNews TV)