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. 
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i. 
To viably invest in the Nigerian midstream and downstream gas industry and fund 
projects directed at increasing the domestic capture, processing and utilisation 
of natural gas in Nigeria, while at the same time growing the Fund for further 
value-adding impact. 
ii. 
To build a performing and diversified investment portfolio capable of generating 
fair returns, provide liquidity for investments in projects, and enhance the value 
of the Fund. 
b. In developing the investment program, the Fund shall be guided by a set of precepts 
from which its investment decisions shall flow, and which shall be the foundation and 
guiding principle for all investment activities. 
c. Each investment transaction shall be limited to those activities defined as eligible under 
the guidelines contained in this MIPS. These precepts are as follows: 
3.3.1 Risk  
The Fund’s investments shall be undertaken in a manner that seeks to ensure the preservation 
of capital in the overall portfolio. To attain this objective, diversification is required to ensure 
that the Fund prudently identifies and manages applicable investment risks. 
3.3.2 Liquidity 
Adequate consideration is to be given to the Fund’s liquidity position vis-à-vis its investment 
program and commitments on an ongoing basis. The investment portfolio shall provide 
sufficient liquidity to enable the Fund meet all project commitments and other operating 
expenses on the Fund’s budget. 
3.3.3 Return on Investment  
The portfolio shall be managed to achieve a positive return on investment (ROI), in line with 
a benchmark rate of return established for the Fund from time to time by the Governing 
Council.  
3.3.4 Maintenance of Public Trust 
The Fund shall seek to avoid any transaction under the Investment Policy that might impair 
public confidence in the Fund and its stakeholders. 
3.4 
Asset Allocation 
In order to achieve the Fund’s investment policy objectives, effective asset allocation is a 
critical investment strategy. The Fund’s asset allocation shall follow these guidelines: