The federal government as well as six companies yesterday signed a contract for the disbursement of N122 billion to the business organisations in a bid to ramp up its gas penetration efforts nationwide.
The beneficiaries at the event which took place in Abuja were: Asiko Energy Holdings Limited (AEHL); FEMADEC Energy Limited; Ibile Oil and Gas Corporation (IOGC); Nsik Oil and Gas Limited; Rolling Energy Limited and Topline Limited.
The move is in line with the Petroleum Industry Act (PIA) 2021, which provided for the establishment of the Midstream and Downstream Gas Infrastructure Fund (MDGIF).