Under Emefiele, NGEP chair, Ibrahim, N250 billion gas expansion fund was inactive for 4 years

Under Godwin Emefiele’s direction, the National Gas Expansion Programme (NGEP) fund, worth N250 billion, has lain inactive in the Central Bank of Nigeria.

This was recently revealed by Dr. Mohammed Ibrahim, the NGEP’s chairman, at a training session for media in Lagos.

He said that there were strict requirements to access the money, which caused it to sit idle.

Ibrahim claimed that current efforts to access the funds had been ineffective.

He continued by saying that the money was intended to aid in putting the federal government’s autogas plan, which aims to create 12 million jobs and 5 million kits for gas conversion nationwide.

According to him, “We have a N250 billion National Gas Expansion Programme (NGEP) fund domiciled in the Central Bank so that you can access this fund if you want to import conversion kits or if you want to import related products.”

Emefiele was sent on leave in June by President Bola Ahmed Tinubu.