The Federal Government of Nigeria is set to release an additional N400 billion for gas infrastructure projects within the next two weeks, according to the Minister of Petroleum Resources (Gas), Hon. Ekperikpe Ekpo.
Speaking at the groundbreaking ceremony for a 10MMSCF/D Compressed Natural Gas (CNG) Mother Station facility in Esit Eket, Akwa Ibom State, Ekpo emphasized that the new funding will follow the N122 billion gas infrastructure fund disbursed last year.
“Let me hint to you that in the next two weeks, I will be approving another fund release of up to N400 billion. Any Akwa Ibom son or daughter looking to participate should engage with Nsik Oil and Gas,” the minister stated.
He stressed that project approvals will be subject to scrutiny by a transaction adviser before final clearance, ensuring transparency and accountability in the fund disbursement process.
Ekpo also encouraged Nigerians, particularly those from Akwa Ibom, to leverage the country’s natural resources and take advantage of the government’s push toward cleaner energy solutions.
During the event, Nsikan Johnny, Chairman and CEO of Nsik Oil and Gas, lauded the initiative as a significant step toward providing cleaner, more affordable energy solutions. The company’s collaboration with the federal government and the Midstream and Downstream Gas Infrastructure Fund is expected to stimulate economic growth and environmental sustainability.
Source: Punch Newspaper
