The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has concluded arrangements to launch a commodity exchange platform dedicated to the nation’s gas sub-sector.
The Chief Executive of NMDPRA, Farouk Ahmed, said the initiative is aimed at strengthening and accelerating the growth of Nigeria’s gas industry, positioning it for greater transparency and competitiveness.
According to Ahmed, the Authority is working closely with the Securities and Exchange Commission (SEC) to ensure proper regulation and market integrity.
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As part of this collaboration, SEC has issued licences to JEX Market for a Gas Trading Licence and a Gas Clearing House and Settlement Authorisation.
The new platform will serve as a commodity exchange for natural gas and its derivatives in Nigeria, with potential to expand its reach across Africa.
The development aligns with the Federal Government’s “Decade of Gas” initiative and ongoing efforts to establish Nigeria as a regional hub for energy transactions.
