Business
NGA calls for inclusion of private sector in Midstream Infrastructure Fund
Adebayo Obajemu
The Nigerian Gas Association (NGA), has called for the inclusion and expansion of private sector into the Midstream Infrastructure Fund for building oil and gas infrastructure in Nigeria.
Recall that the Fund was recently set up by the Minister of State for Petroleum, Mr. Timipreye Silver in Abuja.
Speaking at the second edition of Oil and Gas Outlook 2022, held at the Civic Center in Lagos, President of the NGA, Mr. Ed Ubong said that the Nigerian Mid-stream Infrastructure Fund was going to be the central Fund that will be represented for building gas infrastructure in Nigeria.
He also hinted that the funding for the Fund will be driven for the most part by private sector players as a contribution towards the Fund saying that the Board be inclusive to accommodate more private sector players.
He stated that an once expanded and made more inclusive it will enable a wider sense of belonging and give room for better governance on where and how the Fund will be disbursed.
He said: “I think the Nigerian Mid-stream infrastructure Fund is going to be the central Fund that will be represented for building gas infrastructure in Nigeria, I believe that as the Minister inaugurated the Board earlier this week, I am sure he is already thinking on he can expand that Board so that we will have private sector players on it. This will also create a wider sense of belonging and provide better governance on where and how the Fund will be disbursed to ensure that Nigerians Decade of Gas in term of infrastructure development is achieved.
“I think infrastructure is key and already you can see that the government has began to take key steps Off-course, you have the Ajaokuta Kaduna Gas project which will connect the Southern part of Nigeria with the deep Northern clusters getting gas as far away as Kaduna and Kano.
“For this to work, government must continue to work very closely with the private sector players. Infrastructure is just one part of the value chain on one hand and we have the gas suppliers that must be encouraged to bring more gas to the surface.”
Earlier in his opening remarks, convener of the meeting, Mr. Jamiu Ijaodola said that the decision to gather stakeholders together was informed by the passage of the Petroleum Industry Bill, PIB.