The Federal Government has disbursed N122 billion to six gas infrastructure companies, aiming to enhance the midstream gas value chain across Nigeria. The announcement was made by the Minister of State for Petroleum Resources (Gas), Mr. Ekperikpe Ekpo, during the Midstream Downstream Gas Infrastructure Fund (MDGIF)/Promoters Agreement Signing Ceremony in Abuja on Monday.
Ekpo emphasized that this initiative marks a significant milestone for the Nigerian gas industry, as it formalizes a partnership between the public and private sectors. “This is a historic day for the Nigerian gas industry as we announce and finalize a partnership with the goal of transforming the midstream gas value chain,” he stated.
He attributed this progress to President Bola Tinubu’s commitment to fostering business relationships between government and private sectors. The MDGIF aims to modernize Nigeria’s gas infrastructure, serving as a catalyst for investment and addressing gaps in the gas value chain through financing and delivery of critical projects.
The six companies involved in the agreement include:
- Asiko Energy Holdings Ltd. (AEHL)
- FEMADEC Energy Ltd.
- Ibile Oil and Gas Corporation (IOGC)
- Nsiko Oil and Gas Ltd.
- Rolling Energy Ltd.
- Topline Ltd.
Ekpo highlighted the rigorous selection process for these companies, praising their track records of excellence and technical expertise. He expressed optimism that this collaboration will accelerate Nigeria’s journey toward energy security and economic prosperity, aligning with the goals of the Decade of Gas Initiative.
He also emphasized the government’s commitment to supporting these efforts through enabling policy frameworks, urging the companies to remain dedicated to delivering timely and transformational projects.
Amb. Nicolas Ella, Permanent Secretary of the ministry, called on the investors to be diligent in executing the projects. Sen. Jaribe Jaribe, Chairman of the Senate Committee on Gas, affirmed the Senate’s support for the initiative.
Mr. Oluwole Adama, Executive Director of MDGIF, mentioned that the project will extend across 20 Federal Universities to reduce transportation costs for students and staff, with plans to include more institutions in the future.
Mr. Fola Akinnola, Managing Director of FEMADEC Energy, reassured stakeholders of his commitment to effective and timely project execution.