The Chairman of the National Gas Expansion Programme (NGEP), Mohammed Ibrahim, has blamed the suspended Chairman of the Central Bank of Nigeria (CBN) for making the programme’s N250 billion fund dormant in the bank.
Ibrahim claimed that it was the suspended CBN boss who made the N250 billion National Gas Expansion Programme (NGEP) fund dormant in the apex bank for four years.
According to him, Emefiele had refused to listen to his team about the conditions put in place by the apex bank for stakeholders in the autogas industry to access the fund.
He said the conditions to be met for accessing the fund were rather stringent for companies involved in the autogas value chain to access, and Emefiele had refused to make them less burdensome that no individual or company had access to any portion of the fund domiciled with the CBN.
Speaking during the Annual Training Workshop of the Nigeria Auto Journalists Association (NAJA) with the theme, “Fuel Subsidy Removal: Autogas/Electric Vehicles as Alternatives,” Ibrahim noted that the removal of the fuel subsidy by President Bola Tinubu had frustrated the activities of the subsidy cabals and some stakeholders who said the gas expansion programme would never work.
