In this post, Minister of State Petroleum urged the fund to reduce price of Liquefied Petroleum Gas and Compressed Natural Gas also known as cooking gas.
Minister of State, Petroleum Resources (Gas) and Chairman, Governing Council, Midstream and Downstream Gas Infrastructure Fund (MDGIF), Ekperikpe Ekpo at the weekend urged the fund to reduce the price of the Liquefied Petroleum Gas (LPG) and Compressed Natural Gas (CNG), also known as cooking gas.
He spoke at the inauguration of the Fund’s Governing Council in Abuja.
He described the fund as a vehicle for progress and catalyst for sustainable development.
His words: “The Midstream and downstream gas infrastructure fund (MDGIF) is not merely a fund; it is a vehicle for progress, a conduit for prosperity, and a catalyst for sustainable development.
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“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.”
The minister said the establishment of the MDGIF comes at a critical juncture in Nigeria’s energy landscape.
He added that as the country strives for diversification and sustainable development, the role of gas could not be overstated.
Ekpo noted that the fund’s mandate to support the midstream and downstream gas infrastructure aligns with national aspirations.
The MDGIF, said the minister, represents not just a financial instrument, but a symbol of dedication to fostering an environment conducive to private sector participation and international collaboration.
He described it as a testament to the belief in the transformative power of a well-developed and efficiently managed gas infrastructure.
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The minister called on the international and foreign stakeholders to work together in line with the newly signed executive orders to unlock the gas’ potential.
Ekpo said: “I call upon all stakeholders, both domestic and international, to join hands with us in this noble endeavor in line with the recently signed executive orders on petroleum sector reform to boost investment in the oil and gas sector.
“Let us work together to unlock the vast potential of Nigeria’s gas sector and propel our nation to new heights of economic prosperity.”