In a major stride toward achieving President Bola Ahmed Tinubu’s gas commercialization vision under the Renewed Hope Agenda, the Nigerian National Petroleum Company Limited (NNPCL) has signed a landmark $3.5 billion Memorandum of Understanding (MoU) with the Akwa Ibom State Government and the Gas Aggregation Company Nigeria (GACN).

The agreement is aimed at unlocking the vast gas potential of the South-South region by building infrastructure to support industrial clusters, power generation, and domestic gas utilization. The project will focus on establishing a robust gas hub in Akwa Ibom that will serve as a strategic anchor for energy supply to other parts of the country.

Speaking at the MoU signing ceremony, representatives from NNPCL and GACN emphasized that the initiative aligns with President Tinubu’s strategic directive to leverage Nigeria’s gas reserves for economic growth, job creation, and national energy security. Governor Umo Eno of Akwa Ibom hailed the project as a transformative investment that will turn the state into a key player in Nigeria’s energy future.