The Midstream and Downstream Gas Infrastructure Fund (MDGIF) has approved over ₦165 billion for its second round of disbursement, aimed at boosting Nigeria’s gas distribution and usage.
Established by the Petroleum Industry Act of 2021, MDGIF was created to bridge the gap in Nigeria’s gas infrastructure. It supports companies in the gas sector by providing funding primarily through equity investments in midstream and downstream companies in the sector.
Following an initial round in October 2024 that supported six Nigerian gas companies, this second round will fund 10 new companies:1)
ANT Energy Ltd
2) Sub Sea 9 Gas
3) Wishnefisky Global
4) Waterdance International Concepts
5) Geospectra Energy6) Deemah Integrated Services
7) Amari Energy Resources
8) VTT LNG West Africa
9) LNG Arete
10) SSonic Petroleum
What Projects Are Being Funded?
-Six gas processing plants to increase the local supply of market-ready gas.-Three compressed natural gas (CNG) stations to encourage local gas use for transport and industry.-One large LPG storage facility to reduce delivery delays in the gas supply chain.
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In a unique move, the funds won’t go directly to the companies. Instead, they will be paid to Original Equipment Manufacturers (OEMs) selected by the companies and vetted by MDGIF.
This ensures the equipment is delivered on time and meets industry standards.
This announcement was made by Senator Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas) and Chairman of the MDGIF Governing Council. This funding marks another step in strengthening Nigeria’s gas infrastructure and deepening its use across the country.
