“A description of the intervention facility can be found on the CBN website www.cbn.gov.ng and the ministry’s website at www.petroleumresources.gov.ng,’’
He said the facility was designed to improve access to financing for private sector investment in the gas value chain and stimulate investment in the development of infrastructure to optimise the domestic gas resources for economic development.
He listed other objectives of the facility to include providing a platform to fast track the adoption of Compressed Natural Gas as the fuel of choice for transportation and power generation and Liquefied Natural Gas for domestic cooking, transportation and captive power. “It will also fast track the development of gas-based industries, particularly petrochemicals , to support large industries such as agriculture, textile and related industries.
“Provide leverage for additional private sector investment in the domestic gas market and boost employment across the country,’’ he said. The Permanent Secretary said the facility would also finance gas processing, small scale petrochemical and gas cylinder manufacturing plants, and LCNG regasification modular systems.
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