Akwa Ibom Emerges as Nigeria's Gas Hub: $3.5 Billion Investment Unlocks New Era of Economic Growth

Akwa Ibom State Governor, Pastor Umo Eno, has taken a bold step toward positioning the state as Nigeria’s foremost gas-based industrial hub and energy investment destination. This follows the signing of a landmark Memorandum of Understanding (MoU) with the Gas Aggregator Company of Nigeria (GACN), alongside the announcement of a $3.5 billion Final Investment Decision (FID) by the Nigerian National Petroleum Company Limited (NNPC) Limited.



The signing of the MoU and investment package is a strategic leap toward energy-led prosperity. Governor Eno led the state’s delegation to the ongoing South-South Gas Utilization Forum, taking place at the Ibom Hotel and Golf Resort, Uyo. He described the MoU and investment package as “a strategic leap toward energy-led prosperity.” The Governor commended President Bola Ahmed Tinubu for his unwavering commitment to gas development in Nigeria. He also expressed appreciation to the Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, along with industry leaders, stakeholders, and participants, for their dedication in translating the President’s vision into action.

The Governor emphasized that the summit would renew collective resolve to harness gas for industrialization, domestic energy use, economic growth, and inclusive development. “Akwa Ibom is committed to creating an enabling environment for investment, ensuring adherence to environmental standards, and delivering tangible benefits to our host communities,” the Governor stated. The state government is committed to working with the GACN to develop a robust Akwa Ibom State Gas Master Plan (AKS-GMP), with a focus on data mapping, infrastructure planning, and demand forecasting.

The NNPC’s Executive Vice President (Gas), Mr. Olalekan Ogunleye, stated that the $3.5 billion commitment will support the development of vital gas infrastructure projects. These include an inter-county gas pipeline, offshore-to-land gas delivery systems, a methanol plant, a fertilizer plant, and a floating Liquefied Natural Gas (LNG) facility. The investment is expected to drive economic growth, create jobs, and improve the standard of living for the people of Akwa Ibom State.

The MoU signed between the Akwa Ibom State Government and GACN establishes a strategic framework to promote the state as a natural gas development and industrial investment destination. It also provides for the development of domestic gas-based industries through transparent and commercially viable access to gas supply. The agreement aligns with national goals on energy transition and decarbonization under the Federal Government’s Decade of Gas initiative and climate change agenda.

With the MoU in place and NNPC’s $3.5 billion investment commitment secured, Akwa Ibom State is now firmly positioned as a frontline player in Nigeria’s gas revolution and a key driver of the Federal Government’s Gas to Prosperity agenda. The state government’s commitment to creating an enabling environment and promoting inclusive development will ensure that the benefits of gas development are shared by all. The summit, themed “Utilising Gas as a Catalyst for Sustainable Growth,” was convened by GACN and brought together high-level stakeholders, including policymakers, regulators, investors, and host community representatives from across the South-South region.


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