In a move set to transform Nigeria’s energy sector, the Federal Government will release an additional N400 billion in gas infrastructure funding within the next two weeks, according to the Minister of Petroleum Resources (Gas), Hon. Ekperikpe Ekpo.
The announcement was made during the groundbreaking ceremony of the 10MMSGF/F CNG Mother Station facility in Esit Eket Local Government Area, Akwa Ibom, on Thursday. This new fund follows the successful release of N122 billion last year as part of the government’s ongoing effort to strengthen Nigeria’s gas infrastructure.
Ekpo revealed, “In the next two weeks, we will release another substantial amount, possibly up to N400 billion. This is an opportunity for Akwa Ibom sons and daughters to get involved. But remember, projects must be bankable and go through the Transaction Adviser’s approval.”
The Minister emphasized that despite his roots in Akwa Ibom, every project must meet strict criteria. “The process will be transparent. If your project passes scrutiny, you can rest assured that the funds will be released,” he said, urging both locals and Nigerians nationwide to seize this opportunity.
Ekpo further highlighted that the government is committed to promoting cleaner energy while also urging local governments to create an enabling environment for these transformative projects to thrive. “The time has come for us to harness our natural resources. We can’t afford to sit back and wait for things to happen – we must take charge of our destiny,” he said.
The groundbreaking event was also attended by Mr. Nsikan Johnny, CEO of Nsik Oil and Gas, who expressed excitement over the project’s potential to provide cleaner, safer, and more affordable energy for Nigeria and beyond. He praised the federal government’s commitment to economic growth and environmental sustainability.
The project’s consultant, Mr. Mkposong Asuquo, emphasized the significant role of private indigenous companies in advancing Nigeria’s oil and gas industry. “This investment will create jobs, bring cutting-edge technology, and ensure seamless gas compression to serve both corporate clients and individuals across the nation,” he said.
With this new initiative, the Federal Government is sending a strong signal that it’s not just about improving infrastructure, but about creating lasting economic opportunities for Nigerians – particularly those in Akwa Ibom, a state poised to benefit from this bold step toward energy transformation.
