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MDGIF Investment Policy Statement

Page 15 of 34

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.
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ii.
Gas transportation projects including gas transmission, distribution networks and
virtual transportation systems.
iii.
Gas storage facilities for LNG, CNG, and LPG
iv.
Gas flare utilization projects – aimed at environmental remediation relief,
sustainable development and flare elimination projects.
v.
Other Gas utilization projects such as in gas-based industries, Energy Intensive
Industry etc.
vi.
National widespread retailing infrastructure- Auto gas, refilling plants, virtual
transportation means, residential gas infrastructure etc; and
vii.
Other large scale with nationwide spread industrial, commercial, and related
projects that will enable private investment in the midstream and downstream gas
operations.
3.7
Investment Guidelines
i.
The MDGIF's investments shall be made based on the availability of suitable
opportunities and in accordance with the limits specified in this MIPS.
ii.
The MDGIF shall consider the infrastructure priorities in the various policy interventions,
programmes and initiatives of the Federal Government and other MDAs including, but
not limited to; National Gas Policy, Nigerian Gas Master Plan (NGMP), Nigerian Gas
Flare Commercialization Programme (NGFCP), National Gas Expansion Programme
(NGEP), Decade of Gas Program, Presidential Compressed Natural Gas Initiative (P-
CNGi) as well as other gas-based midstream and downstream infrastructure projects.
iii.
The Fund will invest in such priority infrastructure projects after careful review and
analysis of the proposed project viability, the outcome of the due diligence process
requirements and its satisfaction with same as well as the approval of the Council.
3.8
Potential Investment Partners
a. The MDGIF will identify and invest in the midstream and downstream gas operations
through equity investments:
i.
in viable existing midstream and downstream focused entities, or,
ii.
by establishing new partnerships with credible investors for joint investments.
b. All Project Promoters and equity partners shall possess relevant registrations, approvals,
permits, licences and concessions from the Authority and any other relevant