NGA Advocates Inclusion of Private Sector in Midstream Infrastructure Fund
The leadership of the Nigerian Gas Association, NGA, the largest advocacy group for gas development in Nigeria has called for the expansion and inclusion of the private sector into the Mid-stream Infrastructure Fund for building oil and gas infrastructure in Nigeria.
The Fund was recently inaugurated 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 is going to be the central Fund that will be represented for building gas infrastructure in Nigeria.
Ubong also said that the funding for the Fund will be drawn mainly by private sector players as a contribution towards the Fund adding that the Board be expanded so as to have more private sector players.
He explained that an expanded Board will create a wider sense of belonging and provide better Governance on where and how the Fund will be disbursed.
Also read: FG Inaugurates Governing Board for Gas Infrastructure Fund
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.
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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.
Ijaodola also said that the need to have a platform for continuous engagement of industry players with a view having a robust oil and gas cannot be overemphasized.
