The Midstream and Downstream Gas Infrastructure Fund (MDGIF) has finalised talks with Endurance Group, a major Chinese manufacturing company, to set up 500 Compressed Natural Gas (CNG) refuelling stations across Nigeria over the next three years.
Speaking to journalists after the meeting in Abuja, MDGIF’s Executive Director, Oluwole Adama, said discussions centred on creating a government-backed Special Purpose Vehicle (SPV) that will drive the nationwide rollout.
He explained that the SPV would be jointly promoted by MDGIF, the Bank of Industry (BOI), Endurance Group, and Sequor Investment Partners, adding that the collaboration is designed to accelerate Nigeria’s transition to cleaner, more affordable gas-powered transportation.
“The discussions focused on the creation of a government-backed Special Purpose Vehicle (SPV) jointly promoted by MDGIF, the Bank of Industry (BOI), Endurance Group, and Sequor Investment Partners,” Adama said.
