The Nigerian National Petroleum Company Limited (NNPCL) has signed a $3.5 billion Memorandum of Understanding (MoU) with the Akwa Ibom State government and the Gas Aggregation Company of Nigeria (GACN) to boost gas utilisation and industrialisation in the South-South region.
The agreement was formalised during the opening session of the South-South Gas Utilisation Forum 2025, held in Uyo, Akwa Ibom State, according to a statement issued by the NNPCL on Tuesday.
The company described the deal as a milestone that underlines the South-South geopolitical zone’s commitment to leveraging gas resources for regional economic growth and shared prosperity.
The forum was attended by the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, and representatives of Akwa Ibom, Cross River, and Rivers state governments.
Reacting to the event via a post on X, Ekpo said his presence was not just in his official capacity, but also personal, reflecting his deep connection to the region’s gas development agenda.
Meanwhile, stakeholders in the oil and gas industry have hailed the recent appointment of Ahmadu Musa Kida as Non-Executive Chairman of NNPCL’s Board, describing it as a strategic move to enhance corporate governance and drive reforms in the sector.
Kida, who formerly served as a Director at Pan Ocean Oil Corporation (Nigeria) Limited and held leadership roles within the Newcross group of companies, was recently celebrated at a private send-off dinner in Lagos.
The event, organised by Pan Ocean, Newcross Petroleum Limited, and Newcross Exploration and Production Limited, drew company executives, board members, legal advisers, and industry colleagues who praised his legacy of corporate reform, technical innovation, and institutional strengthening.
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