The federal government has launched an online platform for gas trading and exchange, also known as the Gas Trading Licence, Clearing House, and Settlement Authorization.

Speaking at the ceremony in Abuja, the Minister of State for Petroleum Resources (Gas), Hon. Ekperikpe Ekpo, said it is a new dawn, with the gas industry emerging into a transparent, competitive, and investment-ready market.

He said, “I am pleased to join you today on this occasion of the launch of the first Gas Trading Licence and Clearing House & Settlement Authorization.

“This milestone event signifies the dawn of a new era where our gas industry will emerge with a transparent, competitive, and investment-ready market.”

He commended the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) leadership, headed by the Authority Chief Executive, Farouk A. ’hmed, and also to JEX Markets Limited for their innovative partnership efforts in developing the online platform.

According to him, the efforts will pave the way for smooth natural gas business, transparent pricing, efficient price determination, and secure payment mechanisms— hallmarks that align seamlessly with our national energy policies and global best practices.

He said the launch Is completely consistent with the Renewed Hope Agenda of President Bola Ahmed Tinubu, who stated that natural gas will play a central role in energy security, industrialization, and economic diversification.

He said Nigeria is richly endowed with natural gas reserves, among the biggest in the world, but if the underlying market where the gas will flow is not efficient, reliable, and well-regulated, it will not be possible for stakeholders to realize the ultimate potential of the resource.

Ekpo stressed that the Gas Trading Licence introduced is paving the way for a new, regulated market where reliable traders will feel safe doing business, where businesses can plan, and where investors can invest, knowing that it will safeguard both their capital and the public interest.

He said In line with the provisions of the Petroleum Industry Act, the Authority is mandated to regulate and monitor midstream and downstream operations; protect customers; set fair and transparent cost benchmarks; and ensure strict adherence to licence conditions.

The minister Insisted that the Gas Trading Licence is, therefore, the implementation of the provisions of the licensing requirement that make the investment possible. It provides the governance framework essential for a modern gas industry.

Ekpo said the licence itself is founded upon sound regulations and guidelines governing technical competence, commercial capability, financial soundness, and responsible operations. Among the responsibilities of the licence holders is the adherence to the various rules on gas measurement, tariffs, pricing, and assignments.

Meanwhile, the NMDPRA Chief Executive Officer, Farouk Ahmed, said the formal presentation of the market enabling Licence is a culmination of an effective collaboration with the Industry.

He said It also reaffirms the commitment of the Authority to the actualization of one of the core objectives of the PIA, which is the growth of the domestic gas sector into a dynamic and competitive trading and supply hub.

Ahmed said as the regulator of Nigeria’s midstream and downstream petroleum sector, the Authority recognizes that the true test of licensing JEX Markets is not in the ceremony of today, but in the transformation it must deliver tomorrow.

He vowed that NMDPRA would provide a firm, transparent, and technology-enabled regulatory platform to make JEX succeed.

“To ensure that JEX succeeds as Nigeria’s pioneering gas trading, clearing and settlement platform, we will provide a firm, transparent and technology‑enabled regulatory framework under the PIA, giving investors the certainty and confidence required to commit long‑term capital to the gas value chain, ” he said.

He pledged that the Authority will continue to work closely with sister regulators, including the Securities and Exchange Commission (SEC) and key financial‑market institutions, harmonize market rules, standardize transaction contracts, and ensure that clearing and settlement arrangements meet the highest global standards.

Continuing, he said, “We will actively deploy our licensing and regulatory instruments to drive participation in gas trading by producers, transporters, aggregators, and large‑scale buyers, ensuring that liquidity is built and that transparent price discovery becomes the foundation of Nigeria’s domestic gas market.

“In addition, we are committed to sustained capacity building, data transparency, and industry education, so that Nigerian companies are empowered to compete effectively and confidently in this new gas economy.

“Above all, we will position JEX as a strategic national platform within our Decade of Gas agenda to enable regional integration and cross‑border trade and firmly establish Nigeria not only as a leading gas producer, but as Africa’s reference market for gas trading and pricing.” (The Nation)