GAS FUND ATTRACTS N1.6TN PRIVATE INVESTMENT

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The Midstream and Downstream Gas Infrastructure Fund has leveraged N671bn in public funding to attract about N1.6tn in private investment into Nigeria’s gas infrastructure sector.

The Executive Director of the fund, Oluwole Adama, disclosed this at the 2026 Annual Conference of the Association of Energy Correspondents of Abuja, where he discussed efforts to reduce investment risks in domestic gas projects.

According to the fund, the investment supports 31 projects involving 205 infrastructure assets across the country. When completed, the projects are expected to supply about 475 million standard cubic feet of gas daily to the domestic market.

Adama said the fund was established to use public capital to make projects that may initially appear commercially unattractive more viable and attractive to private investors.

He noted that MDGIF had mobilised private capital at about 2.4 times its own contribution, while high financing costs, infrastructure gaps, regulatory uncertainty and technical risks remained major challenges in the sector.

The fund is also supporting projects to reduce gas flaring and expand CNG infrastructure. Its partnerships include four flare-out projects expected to monetise 444 million standard cubic feet of gas daily.

Meanwhile, the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, called for sustained investment, policy stability, regulatory certainty and faster project execution to strengthen Nigeria’s gas industry.