The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced a $3.5 billion investment to develop gas infrastructure in Akwa Ibom State, marking a significant step in Nigeria’s energy expansion plans.
The announcement was made during the South-South Gas Utilisation Forum, where the Akwa Ibom State Government also signed a Memorandum of Understanding (MoU) with the Gas Aggregation Company of Nigeria (GACN). The agreement is part of a broader effort to transform Akwa Ibom into a major center for gas-powered industrial activities.
According to NNPC Ltd’s Executive Vice President (Gas), Mr. Olalekan Ogunleye, the funding will support the construction of key infrastructure including a regional gas pipeline, offshore-to-onshore delivery systems, a methanol plant, a fertilizer facility, and a floating LNG platform. These projects aim to increase gas use locally, drive industrial development, and create employment opportunities.
Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, commended the project, describing it as a practical move toward realizing President Tinubu’s “Renewed Hope” agenda focused on economic growth through gas development. He also emphasized the importance of investing in host communities in line with the Petroleum Industry Act (PIA), which mandates social investments in health, education, and infrastructure.
The MoU includes plans to develop the Akwa Ibom State Gas Master Plan, covering gas data mapping, infrastructure needs, demand projections, and access to gas for both large and small businesses. It also supports virtual gas distribution through CNG and LPG systems.
Representing the state governor, Deputy Governor Senator Akon Eyakenyi said the state is fully committed to creating a supportive environment for investors and ensuring the energy transition benefits local communities.
GACN Managing Director Mr. Chijioke Uzoho described the partnership as a blueprint that could be replicated nationwide, expressing optimism about the state’s vision and NNPC’s backing.
The forum was attended by officials from Akwa Ibom, Cross River, and Rivers states, along with key players in the gas industry, including community representatives. With this new investment and partnership, Akwa Ibom is set to play a pivotal role in Nigeria’s drive toward energy diversification and industrial progress.
