Tinubu appoints governing council for midstream, downstream infrastructure fund

President Bola Tinubu has approved the appointment of a governing council of the Midstream and Downstream Gas Infrastructure Fund (MDGIF).

According to a statement by Ajuri Ngelale, special adviser to the president, on media and publicity, the fund will be domiciled in the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

Ngelale said Ekperikpe Ekpo, minister of state, petroleum resources (gas), was appointed MDGIF governing council chairman. 

Oluwole Adama was also appointed MDGIF executive director (ED), while Joseph Tolorunshe was appointed governing council secretary. 

Also, Farouk Ahmed, NMDPRA’s chief executive officer (CEO), was appointed a member of the fund, and representatives of the Central Bank of Nigeria (CBN) and ministry of finance were also appointed to join the council.

The newly appointed MDGIF independent members include Amina Maina, Edet David Ubong, and Tajudeen Bolaji Musa.

Ngelale said Tinubu also mandated the appointees to discharge their duties by upholding the highest standards of transparency, discipline, and patriotism in line with his administration’s drive to enhance the role of the gas sector in achieving robust and inclusive economic growth for Nigeria.

The NMDPRA had said it would create over $575 billion in capital investment opportunities for Nigeria, through the decarbonisation of operations.