Akwa Ibom State Governor, Pastor Umo Eno, has taken a significant step towards establishing the state as a major 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) and the announcement of a $3.5 billion Final Investment Decision (FID) by the Nigerian National Petroleum Company Limited (NNPC).

The MoU aims to promote Akwa Ibom as a natural gas development and industrial investment destination, while also developing a robust gas master plan for the state. The agreement commits both parties to promoting domestic gas-based industries through transparent and commercially viable access to gas supply.

The $3.5 billion investment by NNPC will support the development of vital gas infrastructure projects, including 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.

Governor Eno commended President Bola Ahmed Tinubu for his commitment to gas development in Nigeria and expressed appreciation to the Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, for his dedication to translating the President’s vision into action.

The Minister of State for Petroleum Resources (Gas) praised Governor Eno’s leadership and described the summit as a milestone in Akwa Ibom’s journey towards becoming an energy and industrial powerhouse. He emphasized the need to develop industries such as petrochemicals, fertilizers, and compressed natural gas (CNG)-powered transport systems.

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 investment commitment secured, Akwa Ibom State is now poised to play a key role in Nigeria’s gas revolution and drive the Federal Government’s Gas to Prosperity agenda.