Nigeria’s Minister of State Petroleum Resources (Gas), Mr. Ekperikpe Ekpo, says that the Nigerian Government will soon choose more beneficiaries for its initiative to invest in indigenous companies focused on energy security and gas infrastructure development.
The minister stated that the plan will represent a significant milestone in Nigeria’s pursuit of energy security and gas infrastructure development.
Speaking at an event at an event where the government approved the disbursement of N122 billion to six Indigenous companies, the minister explained that the fund made available through the Midstream and Downstream Gas Infrastructure Fund is to support the midstream and downstream gas infrastructure development, aligning seamlessly with the aspirations of the government.
According to the minister, the initiative is expected to help bridge the huge infrastructure deficit, which has been a major hindrance towards gas distribution and utilisation in the country, especially in the wake of the ‘Decade of Gas’ and energy transition policies of the nation.
This effort, according to the statement by the minister’s spokesperson, Louis Ibah, is to foster business relationships and collaboration to achieve Nigeria’s energy security objectives.
The minister described it as 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.
“The MDGIF is a catalyst for investment and bridging gaps in the gas value chain by ensuring the financing and delivery of critical projects.
“We urge the beneficiaries to utilize these funds judiciously, maintaining the same zeal and dedication that earned them selection as the first batch of MDGIF beneficiaries.
“Additional batches of beneficiaries will be selected in subsequent rounds,” Ekpo added.
GIK/APA