The Federal Government has announced plans to select additional beneficiaries for its initiative aimed at investing in indigenous companies focused on energy security and gas infrastructure development. This initiative marks a significant milestone in Nigeria’s pursuit of energy security, as emphasized by Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, during an event where N122 billion was approved for six indigenous companies. Funded through the Midstream and Downstream Gas Infrastructure Fund (MDGIF), this initiative aligns with President Bola Tinubu’s administration goals and aims to bridge the infrastructure deficit hindering gas distribution, particularly amidst the country’s ‘Decade of Gas’ and energy transition policies.
The initiative seeks to foster collaboration between public and private sectors, facilitating investments that will drive Nigeria’s gas industry forward and enhance socio-economic growth. The six selected companies—Asiko Energy Holdings Limited, FEMADEC Energy Limited, Ibile Oil and Gas Corporation, Nsik Oil and Gas Limited, Rolling Energy Limited, and Topline Limited—were chosen for their strong performance and commitment to Nigeria’s gas development.
Additionally, Senate Committee on Gas Chairman Sen. Jaribe Jaribe expressed ongoing support for the initiative, which includes various agreements to enhance collaboration. MDGIF Executive Director, Mr. Oluwole Adama, reiterated the fund’s purpose of boosting domestic natural gas consumption in Nigeria.
