The Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo has emphasised the crucial role the gas sector plays in propelling Nigeria to new heights of economic prosperity.
Ekpo, who also chairs the Governing Council of the Midstream Downstream Gas Infrastructure Fund (MDGIF), made this statement during the council’s inaugural meeting in Abuja on Thursday.
The minister charged members of the MDGIF Governing Council to work together to unlock the vast potential of Nigeria’s gas sector.
Ekpo urged domestic and international stakeholders to collaborate in line with the recent petroleum sector reform executive orders to boost investment in oil and gas, unlocking Nigeria’s vast gas potential and propelling the country towards economic prosperity.
The Minister said the establishment of the MDGIF came at a critical juncture in Nigeria’s energy landscape to support the Midstream and Downstream Gas infrastructure which aligns seamlessly with national aspirations.
He said the MDGIF represents not just a financial instrument, but a symbol of the government’s dedication to fostering an environment conducive to private sector participation and international collaboration.
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According to the Minister, the MDGIF is not just a fund but a vehicle for progress, a conduit for prosperity, and a catalyst for sustainable development, which would in turn lead to a tangible reduction in the price of Liquefied Petroleum Gas, and Compressed Natural Gas, benefiting particularly the low-income earners in society.
Ekpo, who was mindful of the challenges that lie ahead, expressed optimism that those challenges are opportunities in disguise and that with strategic planning, prudent governance, and collaboration, Nigeria would overcome them.
He called on all stakeholders, both domestic and international, to join hands with Nigeria in this noble endeavour in line with the recently signed Executive Orders on Petroleum Sector Reforms to boost investment in the oil and gas sector.
Ekpo expressed his gratitude to President Bola Tinubu for entrusting him with the responsibility of chairing the MDGIF. He opined that with the dedication of the Governing Council and the support of all stakeholders, a success story would be written for generations to come.
President Bola Tinubu recently approved the appointment of a Governing Council of the Midstream and Downstream Gas Infrastructure Fund (MDGIF) to be domiciled in the Nigerian Midstream and Downstream Petroleum Regulatory Authority.
Meanwhile, the Chief Executive of the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and member of the Council, Engr. Farouk Ahmed, who spoke on behalf of other members, promised that they would not leave any stone unturned towards ensuring that the Council succeeds on its assigned mandates.
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