NNPC Commits $3.5 Billion to Transform Akwa Ibom into Gas Industry Hub
UYO, Nigeria – In a major boost to Nigeria’s gas industrialisation agenda, the Nigerian National Petroleum Company Limited (NNPC Ltd.) has unveiled a $3.5 billion investment plan aimed at positioning Akwa Ibom State as a key gas-powered industrial hub in the South-South region.
The announcement was made at the South-South Gas Utilisation Forum, where the Akwa Ibom State Government signed a landmark Memorandum of Understanding (MoU) with the Gas Aggregation Company of Nigeria (GACN).
According to NNPC’s Executive Vice President for Gas, Mr. Olalekan Ogunleye, the investment will fund major infrastructure including inter-county gas pipelines, offshore-to-land gas delivery systems, a methanol plant, a fertilizer plant, and a floating LNG facility.
“This commitment underscores our belief in the vast economic potential of this region,” Ogunleye stated.
Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, hailed the development as a clear step toward the federal government’s “gas to prosperity” strategy under the Renewed Hope Agenda.
Akwa Ibom State Governor, Pastor Umo Eno, represented by Deputy Governor Senator Akon Eyakenyi, described the initiative as “a strategic leap toward energy-led prosperity,” reiterating the state’s commitment to investor-friendly policies and environmental compliance.
GACN Managing Director Mr. Chijioke Uzoho said the partnership sets a template that could be replicated nationwide to boost gas utilisation and stimulate economic growth.
The forum brought together stakeholders from Akwa Ibom, Cross River, and Rivers States, alongside NNPC executives, GACN board members, and host community leaders. The MoU also lays the groundwork for a comprehensive Akwa Ibom Gas Master Plan, focused on infrastructure planning, gas access, and industrial development.
With this announcement, Akwa Ibom is set to play a central role in Nigeria’s energy diversification and industrial revolution.
