President Bola Ahmed Tinubu has constituted the Governing Council of the Midstream and Downstream Gas Infrastructure Fund (MDGIF) with Rt. Hon. Ekperikpe Ekpo as Council Chairman.
The Midstream and Downstream Gas Infrastructure Fund is a creation of the famous Petroleum Industry Act (PIA) of 2021.
The Fund is domiciled under the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
It was established essentially to bridge the gas infrastructure gap in the Nigerian oil and gas sector. Its core mandate is in the funding of key gas infrastructure investments with potential to fast track the transition to clean energy and the Decade of Gas Policy of the federal government.
According to Section 52 of the PIA Act regulating the MDGIF, “the Fund shall be administered by the Council in accordance with the rules and regulations made from time to time by the Council.”
Other members of the new Governing Council include;
- MDGIF Executive Director — Oluwole Adama
- MDGIF Governing Council Secretary — Joseph Tolorunshe
- NMDPRA Chief Executive — Farouk Ahmed
- Representative of the Central Bank of Nigeria (CBN)
- Representative of the Federal Ministry of Finance
- MDGIF Independent Member — Amina Maina (North-East)
- MDGIF Independent Member — Edet David Ubong (South-South)
- MDGIF Independent Member — Tajudeen Bolaji Musa (South-West)
President Tinubu admonished the new appointees to discharge their duties by upholding the highest standards of transparency, discipline, and patriotism in line with his administration’s drive to enhance the role of the gas sector in achieving robust and inclusive economic growth for Nigeria.
President Tinubu is said to be committed in revamping oil and gas sector in line with the global practice.