Ekpo inaugurates MDGIF governing council

…tasks members on investments, energy security

Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo has called on stakeholders, both domestic and international, to join hands with the management of the Midstream and Downstream Gas Infrastructure Fund (MDGIF) to boost investments in the gas sector.

The minister stated this in Abuja on Friday at the inauguration of the Governing Council of the Midstream and Downstream Gas Infrastructure Fund (MDGIF).

Ekpo who is chairman of MDGIF said the fund’s mandate, which is to support the midstream and downstream gas infrastructure, aligns seamlessly with the aspirations of the President Bola Tinubu-led administration.

According to him, the establishment of the MDGIF came at a critical juncture in Nigeria’s energy landscape when the strive for economic diversification and sustainable development with gas as a major component was at its peak.

He therefore urged members to work towards surmounting the challenges of low investments/poor gas infrastructure in the midstream and downstream  and unemployment in the sector.

He said: “The MDGIF is not merely a fund; it is a vehicle for progress, a conduit for prosperity, and a catalyst for sustainable development. This alignment should, in turn, lead to a tangible reduction in the prices of LPG and CNG, benefitting particularly the low-income earners in our society…With the collective expertise and commitment of the Governing Council, as well as the support of our stakeholders, we aim to drive innovation, create employment opportunities, and ensure energy security for our nation.”

Members of the MDGIF Governing Council include: Mr. Oluwole Adama, Executive Director; Mr. Joseph Tolorunshe, Secretary; NMDPRA Chief Executive — Engr. Farouk Ahmed;  Representative of the Central Bank of Nigeria (CBN);  Representative of the Federal Ministry of Finance; Independent members — Ms. Amina Maina (North-East); Mr. Edet David Ubong (South-South);  and Mr. Tajudeen Bolaji Musa (South-West)