The Nigerian Federal Government has disbursed ₦122 billion to six companies from the Midstream and Downstream Gas Infrastructure Fund (MDGIF) to enhance gas utilization across the country. Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, announced the funding during the signing of agreements with the companies in Abuja.

The six beneficiaries Asiko Energy Holdings Limited, FEMADEC Energy Limited, Ibile Oil and Gas Corporation, Nsik Oil and Gas Limited, Rolling Energy Limited, and Topline Limited will utilize the funds to expand gas deployment across various sectors of Nigeria’s economy.

Ekpo highlighted the significance of the disbursement, which marks the first since the 2021 enactment of the Petroleum Industry Act (PIA). He emphasized the government’s goal of increasing gas usage due to its environmental benefits as a cleaner energy source. The agreements signed include Joint Operating Agreements, Equity Contribution Agreements, and Joint Venture Account Agreements aimed at fostering private investment through risk-sharing and equity contributions.

Oluwole Adama, MDGIF’s Executive Director, underscored the projects’ goal of boosting domestic gas consumption and infrastructure development, including facilities for liquefied natural gas (LNG), liquefied petroleum gas (LPG), compressed natural gas (CNG), and university infrastructure projects. Senator Jarigbe Jarigbe, Chairman of the Senate Committee on Gas, praised the initiative and reaffirmed the Senate’s support for the full implementation of the PIA.