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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4.1.3 Diversification of Portfolio 
i. 
The MDGIF would maintain a diversified portfolio of investments across different gas 
infrastructure in the midstream and downstream sectors as well as at different regions 
in the country to manage risks and enhance returns.  
ii. 
These include adopting an optimal diversification strategy in its choice of investment 
region, sector/value chain, investment size, and concentration. 
4.1.4 Environmental, Social, and Governance (ESG)  
i. 
MDGIF shall conduct its business in a sustainable manner and shall apply local and 
international environmental, social, health and safety regulations, laws and practices.  
ii. 
These include applicable ESG rules and regulations in Nigeria and other best practices 
such as the International Finance Corporation (IFC) Performance Standards on 
Environmental and Social Sustainability, and the Equator Principles. 
4.1.5 Transparency and Accountability  
i. 
The MDGIF shall promote transparency, good governance and accountability in the 
administration of the Fund. 
ii. 
MDGIF shall apply due process in all proposals for investments and shall ensure that 
investment evaluations are consistent, objective, and transparent.  
iii. 
No undue favour or preference shall be shown to any project promoter, or partner in 
the evaluation of project proposals for investments. 
4.1.6 Collaborative Project Management  
i. 
Every MDGIF investee project or company, shall constitute a Project Steering 
Committee or Board, on which the Executive Director or a representative shall be a 
member during project implementation and commercial operations. 
ii. 
The Executive Director shall be responsible for project management of the Fund’s 
investments in projects and shall execute this responsibility by working closely with 
project promoters and relevant staff of the Fund. 
iii. 
The Fund shall ensure adequate due diligence, project monitoring and oversight 
during all phases of the project execution in line with the project plan and schedule.  
iv. 
The Fund shall make disbursements of funds for all approved investment projects 
based on confirmed achievement of the minimum milestones of the project in line 
with the project plan and schedule.