The Federal Government has launched Nigeria’s first online gas trading, clearing, and settlement platform to introduce transparency, efficiency, and investment confidence into the domestic gas market, supported by the NMDPRA and its partner, JEX Markets Limited.
The Federal Government has launched Nigeria’s inaugural online gas trading, clearing, and settlement platform, an initiative aimed at fostering transparency and competitiveness in the domestic gas market. Minister of State for Petroleum Resources (Gas), Hon. Ekperikpe Ekpo, hailed the platform as a “new dawn,” emphasizing that it will streamline natural gas trading, ensuring transparent pricing and secure payment mechanisms to boost investor confidence and sustainable growth.
The platform, officially the Gas Trading Licence, Clearing House, and Settlement Authorization, was developed through a partnership between the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and JEX Markets Limited. NMDPRA CEO, Farouk A. Ahmed, affirmed the Authority’s commitment to the platform’s success, vowing to “provide a firm, transparent, and technology‑enabled regulatory framework under the PIA” to attract long-term capital and realize the objective of creating a dynamic domestic gas sector.