Nigeria has taken a decisive step toward reshaping its gas economy with the launch of the country’s first gas trading licence, clearing house and settlement authorisation. The move, led by the Nigerian Midstream and Downstream Petroleum Regulatory Authority in partnership with the Securities and Exchange Commission, grants Jex Markets the mandate to operate a central platform that will guide transactions, strengthen oversight and attract long-term capital.
Speaking at the inauguration in Abuja, the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, said the initiative is at the heart of the decade of gas vision. He explained that a transparent and reliable trading environment will support large-scale industrial growth and open the door for new private investments in processing and transportation. He added that although Nigeria holds some of the world’s largest natural gas reserves, they cannot deliver their full value without a market that is efficient and trusted.
Ekpo linked the launch to President Bola Tinubu’s energy agenda, describing natural gas as the anchor of national security, industrial expansion and economic diversification. He said the new licence creates a stable framework where traders and investors can operate with confidence, ensuring their capital remains protected while the public interest is upheld.
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The Authority Chief Executive of the NMDPRA, Farouk Ahmed, said the rollout complies with the provisions of the Petroleum Industry Act on wholesale gas trading. He noted that full implementation will unlock the vast potential of Nigeria’s gas reserves, which remain underutilised due to pricing opacity, high transaction costs, limited access and weak contract enforcement. He stated that regulatory instruments introduced by the Authority are aimed at delivering transparency, reliable market practices and a path toward a competitive gas trading hub.
Ahmed said the success of Jex Markets will depend on its ability to transform daily operations, not the ceremony of the launch. He pledged a firm and technology-driven regulatory structure to give investors certainty.
The Director General of the SEC, Emomotimi Agama, said the platform marks a turning point for the economy. He noted that a recognised gas trading system will deepen liquidity, support infrastructure growth and strengthen transparency, while also aligning with the Commission’s mandate to protect investors and maintain stable markets within the commodities space.
