Minister urges investments in gas, energy security

Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has urged members to prioritise energy security and bolster investments in the gas sector.

The call came during the inauguration of the governing council of the Midstream and Downstream Gas Infrastructure Fund (MDGIF) to boost investments in the gas sector.

With energy security at the forefront, the minister emphasised the importance of strategic investments to meet growing energy demands and ensure stability in the sector.

Ekpo called on stakeholders, both domestic and international, to join hands with MDGIF to boost investments in the sector. ­­­

The minister, who doubles as the Chairman of MDGIF, said that the fund’s mandate, which is to support the midstream and downstream gas infrastructure, aligns with the aspirations of President Bola Tinubu-led administration.

According to him, the establishment of the MDGIF came at a critical juncture in Nigeria’s energy landscape when the strive for economic diversification and sustainable development with gas as a major component was at its peak.

He, therefore, urged members to work towards surmounting the challenges of low investments/poor gas infrastructure in the midstream and downstream, as well as unemployment in the sector.

He said: “The MDGIF is not a mere fund; it is a vehicle for progress, a conduit for prosperity, and a catalyst for sustainable development. This alignment should, in turn, lead to a tangible reduction in the prices of Liquefied Petroleum Gas (LPG) and Compressed Natural gas (CNG), benefiting particularly the low-income earners in our society. With the collective expertise and commitment of the governing council, as well as the support of our stakeholders, we aim to drive innovation, create employment opportunities and ensure energy security for our nation.”