Gas production falls despite FG’s N250bn intervention fund

The NGEP was introduced by the Federal Government to make the CNG the fuel of choice for transportation and the Liquefied Petroleum Gas, the fuel of choice for domestic cooking, captive power and small industrial complexes.”

After the flag off of NGEP, the CBN also introduced the N250bn intervention facility to help stimulate investment in the gas value chain as part of its efforts at stimulating finance to critical sectors of the economy.

The fifteen companies- Dangote Oil Refinery, Nipco Gas Ltd, Nipco Plc, Hyde Energy Ltd, Lee Engineering and Construction Company, Pinnacle Oil and Gas FZE, Transit Gas Ltd, Almalgamated Oil Company Nig Ltd, First Modular Gas Systems Ltd, NOVAGAS Ltd, Greenville Liquefied Natural Gas Company, AP LPG Limited, and MOB Integrated Services Limited, Delta State Government, and Gas Nexus Ltd that received a combined N130bn, would on Thursday face the Senate Committee on gas chaired by Jarigbe Agom Jarigbe.