Fed. Govt okays N122b investment in six Indigenous firms
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The Federal Government, through the Midstream and Downstream Gas Infrastructure Fund (MDGIF), has approved an investment of N122 billion in six indigenous companies.
The firms are Asiko Energy Holdings Limited (AEHL), FEMADEC Energy Limited, Ibile Oil and Gas Corporation (IOGC), Nsik Oil and Gas Limited, Rolling Energy Limited and Topline Limited.
Minister of State, Petroleum Resources (Gas) and Chairman of the MDGIF Governing Council, Ekperikpe Ekpo, made this known in Abuja.Ekpo, in a statement made available to The Nation by his Spokesman Louis Ibah, described the approval as a major breakthrough in the nation’s gas revolution.
The minister also said that it was “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,” Ekpo said.
He commended President Bola Tinubu’s efforts to foster business relationships and collaboration to achieve Nigeria’s energy security objectives.
Urging “the beneficiaries to utilise these funds judiciously, the minister explained that additional batches of beneficiaries will be selected in subsequent rounds.”
