Nigeria’s gas ambition received a major boost on the global stage as Ibom LNG & Logistics Base Limited and Securo Investment Group Limited sealed a historic 700-million-dollar financing agreement for the development of a large-scale Liquefied Natural Gas facility in Akwa Ibom State.
The agreement was signed at the Abu Dhabi Sustainability Week, one of the world’s most influential platforms for clean energy and sustainable investment, signaling strong international confidence in Nigeria’s gas-led industrial future.
The USD 700 million Memorandum of Understanding and Financing Term Sheet will fund the development of a 100 million standard cubic feet per day LNG facility, designed to strengthen domestic energy supply, support cleaner fuel alternatives, and expand Nigeria’s footprint in the regional gas export market.
The deal was executed by the Chief Executive Officer of Ibom LNG & Logistics Base Limited, Atuekong Dr. Jimmy Ernest Ntuen, and the Managing Director of Securo Investment Group Limited, Khurram Abdullah.
The signing was formally witnessed by the Minister of State for Gas, Honourable Ekperikpe Ekpo, alongside the Managing Director and Chief Executive Officer of the Oil and Gas Free Zones Authority, Bamanga Jada Usman, and Senior Executive Officer of Zenith Bank Plc, Oketunde Alabi—a strong show of regulatory, financial, and government backing for private-sector-driven gas development in Nigeria.
Financing arrangements for the project were facilitated by Dr. Mohammed Bashir Kharrubi, whose coordination helped align international capital with Nigeria’s strategic gas development goals.
With this agreement, Nigeria moves a step closer to unlocking its vast natural gas potential. The LNG facility, when completed, is expected to create jobs, drive downstream industrial growth, improve energy security, enable cleaner fuel substitution, and support Nigeria’s energy transition agenda, while positioning Akwa Ibom State as a major LNG hub.
The partners commended the organizers of Abu Dhabi Sustainability Week for providing a world-class platform for global energy collaboration, and praised the leadership of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, for championing sustainability, innovation, and international cooperation.
Special appreciation was also extended to the Sino International Entrepreneurs Federation, whose facilitation and investment dialogue created the opportunity for the landmark signing.
Speaking at the ceremony, Dr. Jimmy Ntuen described the agreement as “a transformational milestone for Akwa Ibom State and Nigeria’s gas and industrial development agenda,” noting that it reflects growing investor confidence in Nigeria as a destination for large-scale, bankable energy projects.
On his part, Khurram Abdullah said Securo Investment Group was proud to partner with Ibom LNG on a project that balances strong commercial returns with long-term developmental impact, reaffirming the firm’s commitment to sustainable energy infrastructure.
The signing further highlights expanding energy collaboration between Nigeria, the United Arab Emirates, Canada, and international investment partners, reinforcing Abu Dhabi Sustainability Week as a global launchpad for high-impact, executable energy projects.
