The Nigerian honorable Minister of State for Petroleum (Gas) has revealed the Government released of over ₦165 billion in equity investments to 10 midstream and downstream gas companies under the Midstream and Downstream Gas Infrastructure Fund (MDGIF), describing the act as a strategic funding that underscores President Bola Ahmed Tinubu’s unwavering commitment to unlocking the full potential of Nigeria’s gas sector.
Hon. Ekperikpe supervised the joint venture investment agreements awarded to 10 beneficial companies in the presence of MDGIF Executive Director, Oluwole Adama, who disclosed the scopes of the projects agreements covering ten major projects, including six gas processing plants, two of which would use flare gas as feedstock, helping to reduce gas flaring and environmental harm.
Other lines of projects covered by the released gas infrastructure fund include: three compressed natural gas (CNG) refueling stations designed to promote domestic gas use in transportation and industry, while one bulk liquefied petroleum gas (LPG) storage facility is slated to ease domestic supply chain bottlenecks experienced by end-users.
Speaking on the transparency disbursement of the fund Vis-à-vis its judicious utilization, the honorable minister stated unequivocally that the money will be released directly to the Original Equipment Manufacturers (OEMs) after being thoroughly vetted by the MDGIF, to ensure strict compliance with standards and timely delivery of projects. He outlined the economic importance of these projects, which are basically on energy security, industrialization, and job creation
“These funds will go directly to Original Equipment Manufacturers (OEMs), vetted by the MDGIF, to ensure strict compliance with standards and timelines. Our goal is clear: accelerate gas infrastructure development and deliver tangible economic benefits across agriculture, manufacturing, transport, and more.
‘This initiative is more than just about infrastructure — it’s about building an inclusive, energy-secure future that empowers our industries and creates jobs. Through strategic partnerships like this, we’re positioning Nigeria as a leader in the global energy transition,” Hon. Ekpo stated.
In his remarks, the MDGIF Executive Director, Oluwole Adama reaffirmed that the recent Federal government reforms in the oil and gas industry have attracted investment, increased local refining capacity, and advanced the monetisation of Nigeria’s abundant natural gas reserves. He further stated that the projects are designed to bridge critical gaps in Nigeria’s gas value chain, providing the necessary gas infrastructure needed to transform the resource from the production stage to end-user products across the industrial and consumer spaces.
The list of the 10 beneficial companies includes: ANT Energy Ltd, Sub Sea 9 Gas, Wishnefisky Global, Waterdance Int’l Concepts, Geospectra Energy, Deemah Integrated Services, Amari Energy Resources, VTT LNG West Africa, LNG Arete, and SSonic Petroleum.
