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FG Okays N122bn Investment for Local Gas Infrastructure Development

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Gas Infrastructure Development

By Adedapo Adesanya

The federal government, through the Midstream and Downstream Gas Infrastructure Fund (MDGIF), has approved the investment of N122 billion in six indigenous companies, marking a significant milestone in Nigeria’s quest for energy security and gas infrastructure development.

The Minister of State Petroleum Resources (Gas) and Chairman of the MDGIF Governing Council, Mr Ekperikpe Ekpo, made this announcement at an event held at the NNPC Towers Abuja.

He described it as a breakthrough in Nigeria’s gas revolution and “a testament to the government’s commitment to harnessing the country’s gas resources for socio-economic growth.”

The six beneficiary companies – 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 – were carefully selected based on their track record of excellence and commitment to supporting Nigeria’s gas revolution.

“This partnership between the public and private sectors will transform Nigeria’s gas industry, accelerating our journey towards energy security, industrial growth, and economic prosperity,” said Mr Ekpo.

The Minister commended President Bola Tinubu’s efforts to foster business relationships and collaboration to achieve Nigeria’s energy security objectives. He noted that the selection process was rigorous, with each company chosen for its exceptional performance and dedication to Nigeria’s gas development.

“The MDGIF is a catalyst for investment and bridging gaps in the gas value chain by ensuring the financing and delivery of critical projects,” Ekpo explained. “We urge the beneficiaries to utilize these funds judiciously, maintaining the same zeal and dedication that earned them selection as the first batch of MDGIF beneficiaries.”

Mr Ekpo added that additional batches of beneficiaries will be selected in subsequent rounds.

He emphasized that the MDGIF investment aligns with the goals of the Decade of Gas Initiative, aimed at harnessing Nigeria’s gas resources for socio-economic growth.

Present at the event were the Chairman of the Senate Committee on Gas, Mr Jarigbe Agom Jarigbe, Permanent Secretary, Ministry of Petroleum Resources, Mr Nicholas Agbo Ella, Executive Director, MDGIF, Mr Oluwole Adama, Secretary and Members of the MDGIF Governing Council, CEOs of the beneficiary companies, top officials of the Nigerian Midstream and Downstream Petroleum Regulatory Agency (NMDPRA), among others.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Yusuf Tuggar Steps Down as Foreign Minister Over 2027 Political Ambition

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Yusuf Tuggar

By Adedapo Adesanya

Nigeria’s Minister of Foreign Affairs, Mr Yusuf Tuggar, has resigned from his position, in line with the directive that government appointees seeking political offices must resign before March 31.

Business Post reports that the diplomat is eyeing a governorship ambition in Bauchi State ahead of the 2027 general elections.

Mr Tuggar’s resignation was confirmed in a statement by the ministry’s spokesperson, Mr Kimiebi Ebienfa, on Monday.

Mr Tuggar submitted his resignation letter on Monday, barely 24 hours before the deadline set by President Bola Tinubu, which directs all political appointees under his administration seeking to contest elective offices in the 2027 elections to resign before March 31.

The directive is in line with Section 88(1) of the Electoral Act, 2026, and the timetable released by the Independent National Electoral Commission for party primaries ahead of the 2027 polls.

With this development, more resignations are expected before the March 31 deadline as appointees seeking elective offices move to meet the stipulated deadline.

Earlier today, the Chairman of the Governing Board of the Federal Mortgage Bank of Nigeria (FMBN), Mr Nasiru Gawuna, formally resigned from his position to join the African Democratic Congress (ADC) with his sights on the Kano governorship ticket.

Mr Tuggar’s resignation comes amid the speculation of his interest in contesting the 2027 Bauchi State governorship election on the platform of the All Progressives Congress (APC).

The 59-year-old is a seasoned diplomat, policymaker, and political figure who was appointed as minister by President Bola Tinubu in August 2023.

Born on March 12, 1967, he has built a distinguished career spanning diplomacy, politics, energy, and strategic consulting.

He is widely regarded for his role in shaping Nigeria’s global engagement and advancing its foreign policy priorities.

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Lagos to Deepen Private Sector Collaboration for Sustainable Urban Development

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Irele Tower

By Aduragbemi Omiyale

The Lagos State government has promised to sustain its collaboration with private sector players to drive sustainable urban development, create jobs, and position Lagos as a leading hub for commerce and industry in Africa.

This assurance was given by the state governor, Mr Babajide Sanwo-Olu, at the commissioning of Irele Tower last Thursday.

The nine-storey facility is the first commercial building within the Lagos Free Zone (LFZ). It is EDGE-certified, which sets a new standard for sustainable workspace in Lekki, Nigeria’s fastest-growing economic corridor.

Irele Tower is designed to host office and retail activities in the Lekki economic corridor. It was built for efficiency with 26 per cent less energy and 46 per cent less water consumption. It is an eco-friendly building, with the design inspired by maritime architecture, reflecting its proximity to the Lekki Deep Sea Port.

Mr Sanwo-Olu described the delivery of the Irele Tower as a significant milestone in the development of the economic zone in line with the agenda of making Lagos a 21st-century economy by boosting economic growth to support the state’s developmental plans.

According to him, the facility is critical to unlocking the full potential of the Ibeju-Lekki axis of the economic zone, particularly given the presence of the Lekki Deep Sea Port and other major industrial investments within the Lagos Free Zone.

“The commissioning of Irele Tower is a clear demonstration of what can be achieved through strong collaboration between the public and private sectors. This development not only enhances the infrastructure profile of the Lagos Free Zone but also strengthens our vision of making Lagos a premier destination for investment and economic activities.

“We will continue to support initiatives that promote industrial growth, create employment opportunities, and improve the overall business environment in our state,” he said.

In her remarks, the chief executive of LFZ, Ms Adesuwa Ladoja, stated that the development reflects the zone’s commitment to creating an integrated ecosystem where businesses can thrive, supported by modern infrastructure, a strategic location, and efficient logistics.

“The commissioning of Irele Tower represents a defining milestone in our journey to build a world-class industrial and commercial hub. This development reflects our commitment to providing high-quality infrastructure that supports ease of doing business and enhances operational efficiency for our tenants.

“As the first commercial tower within the Lagos Free Zone, Irele Tower, sets a new benchmark for quality workspace in this corridor and reinforces our position as a preferred destination for investment and enterprise,” she added.

Irele Tower sits on a gross floor area of approximately 12,000 square metres. It offers modern workspaces tailored to evolving business needs. The facility also offers premium amenities, including office spaces, retail outlets, parking facilities, shared workspaces, and a rooftop cafeteria, creating a dynamic, integrated business environment.

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FMBN Chairman Gawuna Resigns Ahead of March 31 Deadline

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Nasiru Gawuna

By Adedapo Adesanya

The Chairman of the Governing Board of the Federal Mortgage Bank of Nigeria (FMBN), Mr Nasiru Gawuna, has formally resigned from his position, obeying a directive that requires office holders with political ambitions to step down before March 31, 2026.

Mr Gawuna, a former governorship candidate of the All Progressives Congress (APC) in Kano State, submitted his resignation in a letter dated March 27, 2026. In the letter, he stated that his decision takes immediate effect and is in compliance with directives issued by President Bola Tinubu.

He is expected to formally announce his move to the African Democratic Congress (ADC) on Tuesday alongside Mr Rabiu Musa Kwankwaso, a prominent political figure and former Governor of Kano, who resigned from the New Nigeria People’s Party (NNPP).

The former governor of Kano and senator rose to prominence through his grassroots-oriented Kwankwasiyya Movement, which has played a decisive role in shaping electoral outcomes in Kano. His political journey has seen him move across major parties before leading the NNPP into the 2023 general elections, where he maintained significant influence in the North-West state.

“My resignation is in strict compliance with the President’s directive requiring all political appointees to step down in accordance with the provisions of the Electoral Act,” Mr Gawuna wrote.

In his resignation letter, Mr Gawuna expressed appreciation for the opportunity to serve under the current administration, describing his tenure as both an honour and a privilege.

“I am profoundly grateful to His Excellency, President Bola Ahmed Tinubu, for the confidence reposed in me to serve. It has been a privilege to contribute to the growth and development of the Federal Mortgage Bank of Nigeria and our great country,” he stated.

He also struck a reflective tone regarding his future, adding, “I place my future in the hands of Allah (SWT) and seek His divine guidance in all my endeavours.”

Mr Gawuna assured stakeholders of a seamless transition process, noting that he would hand over responsibilities in line with established procedures.

“I remain committed to ensuring a smooth and orderly handover in accordance with all laid-down directives,” he said.

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