Library / Applicable to: MDGIF Project Promoters Equity Partners MDGIF INVESTMENT POLICY STATEMENT (MIPS) Code: MDGIF Guide 1001 - 2024
Applicable to: MDGIF Project Promoters Equity Partners MDGIF INVESTMENT POLICY STATEMENT (MIPS) Code: MDGIF Guide 1001 - 2024
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Applicable to: MDGIF Project Promoters Equity Partners MDGIF INVESTMENT POLICY STATEMENT (MIPS) Code: MDGIF Guide 1001 - 2024 Effective Date: 17th May 2024 This document is a property of the Midstream and Downstream Gas Infrastructure Fund. All rights reserved. 22 4.2 Project Screening and Evaluation a. All project investment proposals shall be subject to a screening process supervised by the Management Investment Committee where the proposals are reviewed and assessed vis-à-vis the Fund’s screening criteria checklist. b. The purpose of the project screening is to identify projects that align with the Fund’s purpose and have the complete documentation and requisite readiness for detailed technical and commercial evaluation by the Transaction Advisor. c. Based on the project screening results, proposals shall be classified as one of the following: Screening classification Action i. Eligible investment Refer for technical and commercial evaluation by Transaction Advisor ii. Ineligible investment Communicate decision to project promoter iii. Incomplete documentation Request additional information from project promoter d. All project proposals shall be screened based on the screening and evaluation criteria of the Fund. 4.3 Investment Criteria a. Infrastructure focus: The investments to be undertaken by the project promoter must align with the primary definition of midstream and downstream gas operations i.e., they must be in the target sectors of MDGIF investments. These projects must also have stable and predictable cash flows, as aligned with the national strategic goals. b. Economic impact: The investments must contribute directly to the promotion of domestic gas utilization & infrastructure development in Nigeria, which will ultimately support economic growth and development in the country. c. Development impact: Investments to be made must have significant development impact and be complementary to the priority projects and sectors, as identified by the FGNs programs and projects e.g. ‘Decade of Gas’, ‘Gas Master Plan’, P-CNGi etc. d. Economic viability: The projects or operations to be considered must be economically viable, as indicated through such measures as clearly defined by tariff principles, user charges, consumer willingness to pay, sustainable consumption rate, etc.
MDGIFPDF20242024-0522