FG Probes MDGIF Executive Director Over Alleged ₦33.6bn Gas Flare Fund Shortfall

The Federal Government has reportedly raised concerns over an alleged ₦33.6 billion shortfall in gas flare penalty revenues linked to the Midstream and Downstream Gas Infrastructure Fund (MDGIF). The allegation involves Oluwole Adama, an Executive Director of the fund, and centres on whether gas flare penalty proceeds were fully remitted to public accounts. These penalties are paid by oil companies for burning off natural gas during crude oil production. MDGIF was created under the Petroleum Industry Act to support gas infrastructure projects and expand Nigeria’s gas sector. Any confirmed irregularity could trigger administrative, civil or criminal action and renew scrutiny of how petroleum revenues are managed. The claims remain allegations pending the outcome of any official investigation or judicial process.

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