- NMDPRA issues Gas Trading Licence to Jex Markets under the PIA framework.
- New electronic gas-trading platform targets transparency, efficiency and greater market access.
Nigeria gas trading license issuance entered a new phase as the Nigerian Midstream and Downstream Petroleum Regulatory Authority presented a Gas Trading License to Jex Markets Limited. The Authority Chief Executive, Engr Farouk Ahmed, handed over the license during a ceremony in Abuja. He explained that the action complies with section 159 of the Petroleum Industry Act. He also noted that the approval supports the trading and settlement of wholesale gas across the country.
The event highlighted the launch of an electronic gas trading and exchange platform. The platform was developed by experienced industry professionals working with the Authority. It aims to revolutionise gas trading through seamless transactions, transparent pricing and efficient price discovery. It also provides secure payment systems and broad access to timely market information. These features align with Nigeria’s wider energy policies and global regulatory best practice.
Ahmed stated that the implementation of this PIA provision marks another step in transforming the national gas market. He said the initiative supports a transparent, efficient and inclusive ecosystem. He added that the reform fits into Nigeria’s strategic decade of gas. He stressed that improved gas supply and utilisation can unlock investment in power, industry and transportation.
He acknowledged the gaps in the sector. He explained that the country holds vast gas reserves. He noted, however, that the domestic market remains constrained by high costs and pricing opacity. He added that limited flexibility, poor liquidity and weak contract sanctity also affect growth. He said the industry suffers from restricted access to gas and insufficient investment.
He emphasised that the Nigeria gas trading licence will support a more structured, transparent and investor-friendly market. He expressed confidence that the new system will strengthen domestic and regional utilisation. He said it will also promote sustainability across the sector.