N250bn gas expansion fund dormant for 4 years under Emefiele – NGEP chair, Ibrahim

A National Gas Expansion Programme (NGEP) fund worth N250 billion has remained dormant in the Central Bank of Nigeria under the leadership of Godwin Emefiele.

Chairman of the NGEP, Dr. Mohammed Ibrahim, disclosed this recently during a training for journalists in Lagos.

According to him, the funds were dormant because of stringent conditions to access it.

Ibrahim said efforts to access the funds were unsuccessful to date.

He added that the funds were meant to help actualize the federal government’s autogas initiative to provide 12 million jobs and 5 million gas conversion kits nationwide.

“We have a N250bn National Gas Expansion Programme (NGEP) fund domiciled in the Central Bank so that if you want to import conversion kits or if you want to import related products, you can access this fund”, he said.

President Bola Ahmed Tinubu suspended Emefiele in June.