President Bola Tinubu has approved the appointment of the Midstream and Downstream Gas Infrastructure Fund’s (MDGIF) governing council.
The fund will be housed in the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), according to Ajuri Ngelale, special adviser to the president on media and publicity.
Ngelale announced that Ekperikpe Ekpo, minister of state for petroleum resources (gas), has been appointed chairman of the MDGIF governing council.
Oluwole Adama was also named MDGIF executive director (ED), and Joseph Tolorunshe was named secretary to the governing council.
Farouk Ahmed, the CEO of NMDPRA, was also appointed to the fund, and representatives from the Central Bank of Nigeria (CBN) and the Ministry of Finance were also appointed to the council.
Amina Maina, Edet David Ubong, and Tajudeen Bolaji Musa are among the newly appointed MDGIF independent members.
According to Ngelale, Tinubu also directed the appointees to carry out their duties with the utmost transparency, discipline, and patriotism, in line with his administration’s efforts to strengthen the role of the gas sector in achieving robust and inclusive economic growth in Nigeria.
The NMDPRA stated that decarbonising operations would create over $575 billion in capital investment opportunities for Nigeria.