The federal government has approved the investment of N122 billion in six gas infrastructure companies.
Ekperikpe Ekpo, minister of state for petroleum resources
(gas), spoke in Abuja on Monday.
In a statement by Louis Mbah, the minister’s spokesperson,
the midstream and downstream gas infrastructure fund (MDGIF) championed the
approval, which signifies a significant milestone in Nigeria’s quest for energy
security and gas infrastructure development.
The six beneficiary companies are Asiko Energy Holdings
Limited (AEHL), FEMADEC Energy Limited, Ibile Oil and Gas Corporation (IOGC),
Nsik Oil and Gas Limited, Rolling Energy Limited, and Topline Limited.
Ekpo, who also serves as the chairman of the MDGIF governing
council, said the move is a breakthrough in Nigeria’s gas revolution and “a
testament to the government’s commitment to harnessing the country’s gas
resources for socio-economic growth”.
“This partnership between the public and private sectors
will transform Nigeria’s gas industry, accelerating our journey towards energy
security, industrial growth, and economic prosperity,” Ekpo said.
The minister commended President Bola Tinubu’s efforts to foster
business relationships and partnerships to achieve Nigeria’s energy security
objectives.
He said the selection process was rigorous, with each
company chosen for its exceptional performance and dedication to Nigeria’s gas
development.
“The MDGIF is a catalyst for investment and bridging gaps in
the gas value chain by ensuring the financing and delivery of critical
projects,” Ekpo said.
“We urge the beneficiaries to utilise these funds
judiciously, maintaining the same zeal and dedication that earned them
selection as the first batch of MDGIF beneficiaries.”
He said additional batches of beneficiaries would be
selected in subsequent rounds.
Ekpo emphasised that the MDGIF investment aligns with the
goals of the ‘Decade of Gas’ initiative, aimed at harnessing Nigeria’s gas
resources for socio-economic growth.
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