Akwa Ibom secures $3.5bn NNPCL gas investment

Nigeria’s gas industrialization efforts received a major boost as the Nigerian National Petroleum Company Limited (NNPCL) announced a $3.5 billion investment in strategic gas infrastructure projects in Akwa Ibom State.

The announcement was made during 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). The agreement is expected to position the state as a hub for gas-based industrial development.

According to NNPCL’s Executive Vice President (Gas), Mr. Olalekan Ogunleye, the multibillion-dollar investment will support the construction of an inter-county gas pipeline, offshore-to-land gas transmission facilities, a methanol plant, a fertilizer plant, and a floating liquefied natural gas (LNG) unit. These projects aim to deepen domestic gas use, spur industrial growth, and create jobs across the South-South region.

“The scale of our commitment reflects our confidence in the economic potential of Akwa Ibom and the wider region,” Ogunleye said.

Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, hailed the initiative as a vital step toward realizing President Bola Tinubu’s “Gas to Prosperity” component of the Renewed Hope Agenda.

“This forum is not just a meeting; it is a declaration of intent to transition from gas production to gas-based industrial development,” he said, urging increased involvement of local communities through the Host Communities Development Trust (HCDT) as mandated by the Petroleum Industry Act (PIA).

The MoU outlines plans for the creation of the Akwa Ibom State Gas Master Plan (AKS-GMP), which will focus on gas infrastructure mapping, demand forecasting, and supply optimization. It will also promote the use of compressed and liquefied natural gas (CNG and LPG), while supporting both small and large-scale gas-based enterprises.

Speaking on behalf of Governor Umo Eno, Deputy Governor Senator Akon Eyakenyi described the deal as a “strategic leap towards energy-driven development,” affirming the state government’s readiness to provide a conducive investment climate, ensure environmental compliance, and deliver benefits to local communities.

GACN Managing Director, Mr. Chijioke Uzoho, said the partnership with Akwa Ibom offers a replicable model for gas-driven growth in other parts of Nigeria.

“The collaboration demonstrates how coordinated strategies can unlock the economic potential of gas. The commitment by NNPC and the vision of Akwa Ibom State are commendable,” Uzoho said.

The event drew participants from Akwa Ibom, Cross River, and Rivers States, as well as senior executives from NNPCL, GACN board members, and host community leaders.

With the MoU signed and investment secured, Akwa Ibom is set to play a leading role in Nigeria’s energy transition and gas-led industrial revolution.