Minister of State for Petroleum Resources (Gas) Ekperikpe
Ekpo, who oversees the fund’s activities, disclosed this on Friday during the
inauguration of the seven-member council in Abuja.
He noted that the fund aims to attract $575 billion in
investments in the Nigerian gas sector.
“The President’s confidence in my ability to chair the MDGIF
is not just a personal honour but a clarion call to service for all of us.
“The MDGIF is not merely a 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
LPG and CNG, benefitting particularly the low-income earners in our society,”
Ekpo stated.
Recall that President Bola Tinubu appointed a governing
council to lead the Midstream and Downstream Gas Infrastructure Fund late last
year.
As of February, the prices of 12.5kg LPG in Nigeria stood
between N9,699.50 to N13,040, depending on the location.