The Nigerian government has inaugurated the Governing Council of the Midstream and Downstream Gas Infrastructure Fund to reduce the prices of Liquefied Petroleum Gas and Compressed Natural Gas in the country.
Minister of State for Petroleum Resources 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.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nigerian Navy Destroys Illegal Refining Sites and Seizes Stolen CrudeThe Nigerian Navy Forward Operating Base (FOB) Formoso, in Brass Local Council of Bayelsa State, has destroyed three illegal refining sites and one large wooden boat laden with about 160,000 litres of products suspected to be stolen crude.
Read more »
Nigerian Labour Congress charges President Tinubu to address hunger and unemploymentThe President of the Nigerian Labour Congress, NLC, Joe Ajaero, has called on President Bola Tinubu to stop playing politics and focus on addressing the issues of hunger and unemployment in Nigeria. Ajaero's statement comes in response to Tinubu's remark that Labour Unions should not call for strikes within the first nine months of an administration. Ajaero assures Tinubu that Labour unions are not after his job.
Read more »
Nigerian Navy arrests 13 crew members on Ghanaian vesselThe Nigerian Navy has arrested 13 crew members on board a Ghanaian owned and registered vessel for attempting to steal the nation's natural resources. The arrest was made during the newly launched Operation Delta Sanity, after the vessel switched off its Automatic Identification System (AIS) to evade detection.
Read more »
Advancing technological capabilities: Harnessing AI for sustainable growth in Nigerian financial institutionsThe technological landscape of Nigeria's financial institutions is marked by both promise and challenges. While significant progress has been made in digitization efforts, the adoption of advanced technologies like artificial intelligence (AI) remains relatively low.
Read more »
Operator advocates local cloud hosting for Nigerian businessesA local operator, Layer3Cloud, has advocated local cloud hosting for Nigerian businesses. Layer3Cloud said in today’s digital landscape,
Read more »