In a bold strategic move to unlock the full potential of natural gas utilization, industrialisation, economic diversification, and sustainable development in the South-South region and across Nigeria, the Nigerian National Petroleum Corporation and partners have signed a $3.5 billion Gas Sales Purchase Agreement in Akwa Ibom.
This investment milestone was performed recently at the just-concluded South-South Gas Utilisation Forum in Akwa Ibom State and hosted by Gas Aggregator Company Nigeria Ltd/Gte, in partnership with the Akwa Ibom State Government, Ministry of Petroleum Resources, Nigeria, and NNPC Limited, with the theme: “Utilising Gas as a Catalyst for Sustainable Growth”.
The event witnessed a high-level gathering of stakeholders across the gas value chain, government, industry, and investment communities, signaling the South-South geopolitical zone’s commitment to unlock energy investment opportunities in the region and to driving gas industrialisation for shared prosperity.
Declaring the event open, the Minister of State for Petroleum Resources (Gas), Honourable Ekperikpe Ekpo, who also presided over the signing of the gas partnership agreement, stated that this investment stride will deepen the collaboration between producers and the host communities, not as a corporate responsibility, but as a shared developmental mission.
“Our vision must be clear: to turn gas into jobs, gas into power, gas into industries, and ultimately, gas into prosperity for our people. This means attracting investments into gas-based industries, such as petrochemicals, fertilisers, modular refineries, and CNG for transport.
“It also means building reliable gas infrastructure to connect supply to demand centres and ensuring that our young people are trained and ready to take advantage of the opportunities in the evolving gas economy,” Ekpo stated
He stressed that the passage of the Petroleum Industry Act (PIA) in 2021 undoubtedly played a prominent role and has provided an enabling platform for GACN to achieve this huge gas business success. He stated that PIA provides a solid legal and regulatory framework in ensuring that the domestic gas market is not only commercially viable but also socially impactful, especially in making significant provisions for host communities’ participation in Nigeria’s oil and gas sector.
“The most notable feature is the creation of the Host Communities Development Trust (HCDT), which is intended to ensure that oil and gas host communities benefit directly from petroleum operations in their areas.
“This Trust ensures that funds contributed by operating companies—amounting to 3% of their actual operating expenditure—are deployed for critical social infrastructure, education, health, and economic empowerment within the host communities.
” It provides for community participation in governance and guarantees that communities are no longer bystanders but co-owners in the development process,” he said.
Ekperikpe commended GACN for its crucial role in ensuring the availability and equitable distribution of gas to the domestic market. He stated that the company has distinguished itself among its peers since its establishment in 2010 as the Federal Government’s Strategic Aggregator under the National Domestic Gas Supply and Pricing Regulations.
The South-South Gas Utilisation Forum 2025 was attended by the Honourable Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, alongside representatives from the Governors of Akwa Ibom, Cross River, and Rivers States. NNPC Ltd.’s delegation was led by the Executive Vice President, Upstream, NNPC Limited, Udy Ntia, who also serves as the GACN Board Chairman, the Executive Vice President, Gas, Power, and New Energy, Mr. Olalekan Ogunleye, and the Managing Director of GACN, Mr. Chijioke Uzoho
