Under Emefiele, NGEP Chair, Ibrahim, N250 Billion Gas Expansion Fund Was Inactive For 4 Years.

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 an 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.