By Atoyebi Nike
The Federal Government has introduced Nigeria’s first online platform for gas trading, clearing and settlement, marking a significant shift in the country’s energy market.
Speaking at the launch in Abuja, the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, described the initiative as a major step toward a transparent and competitive gas economy. He said the system will improve pricing clarity, speed up market transactions and strengthen payment security for operators.
Ekpo commended the Nigerian Midstream and Downstream Petroleum Regulatory Authority and its chief executive, Farouk A. Ahmed, for collaborating with JEX Markets Limited to develop the platform. He noted that the licensing of gas traders would introduce a more structured environment that protects investors and supports long-term planning.
Ahmed said the project advances the objectives of the Petroleum Industry Act, adding that a regulated digital trading hub will help develop the domestic gas sector. He pledged that the Authority will maintain a stable and technology-driven regulatory framework to ensure the platform delivers tangible market improvements.
