Minister of Petroleum Resources (Gas), Ekperikpe Ekpo, has said the newly unveiled digital platform for Gas Trading Licence, and the Clearing House & Settlement Authorisation will enhance transparency of Nigeria’s gas market and offer a framework that aligns with global best practices.
Ekperikpo stated this during the official unveiling of the GTL platform on Thursday, December 11.
In a post on his X handle after the official unveiling, the minister said the digital system will not only make pricing transparent and payments more secure, but also boost confidence in Nigeria’s gas value chain.
“This innovation marks the beginning of a new era. For the first time, our gas market will operate on a fully transparent, rules-driven and investment-ready framework that aligns with global best practices,” Ekpo stated.
“With this system, pricing becomes clearer, payments become more secure, and confidence in Nigeria’s gas value chain grows stronger.
“This platform is a commitment to a transparent, competitive, and investor-friendly gas industry,” he added.
The minister urged gas producers, traders, off-takers, and financial partners to explore opportunities offered by the system to expand industrial activities, secure gas supply, and boost investment in the midstream and downstream value chain.
The Gas Trading Licence and the Clearing House & Settlement Authorisation was developed by JEX Markets Ltd, a firm that provides a marketplace where natural gas and related products can be traded.
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The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), in collaboration with the Securities and Exchange Commission (SEC), formally presented the Gas Trading License, Clearing House, & Settlement Authorisation to JEX Markets Ltd in Abuja on Thursday.
The minister commended NMPDPRA for its leadership, and JEX Markets for developing the platform, which he described as a “world-class.”
He noted that their work reflects the vision of President Bola Tinubu under the Renewed Hope Agenda, a vision which recognises the central role of natural gas in Nigeria’s quest for industrialisation, energy security, and economic diversification.
He reaffirmed that “Nigeria is ready for a future where gas drives growth,” adding that the launch of the digital system for gas trading “brings us one step closer.”
On his part, NMDPRA Chief Executive, Engr Farouk Ahmed, said the launch of the gas trading platform ushers in a new era for Nigeria’s gas sector.
Ahmed reaffirmed NMDPRA’s commitment to achieving PIA’s core objective of developing the domestic gas sector into a dynamic and globally competitive trading and supply hub.
He explained that the platform would enable automated online and real-time market trading.
To ensure the success of JEX Markets in the project, Ahmed assured that NMDPRA will provide a transparent and technology‑enabled regulatory framework under the PIA to ensure clarity and raise the confidence level in the system needed to attract investors to the gas value chain.
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Director General of SEC, Emomotimi Agama, said the platform will remove opacity, promote fair pricing and build confidence among producers, transporters, and consumers.
Chairman of JEX Markets, Oscar Onyema, thanked SEC for granting the Commodities Exchange license to the company.
Onyema, a former GMD/CEO of Nigerian Exchange Group, said the company will work with stakeholders to launch gas trading in 2026.
“Honoured to formally receive our gas trading licence, and clearing and settlement authorization from NMDPRA on behalf of JEX Markets Limited. We also appreciate the SEC for giving us our Commodities Exchange license. We will work with stakeholders to launch gas trading in 2026,” Onyema wrote on X on Friday.
Victor Ezeja is a passionate journalist, scholar and analyst of socioeconomic issues in Nigeria and Africa. He is skilled in energy reporting, business and economy, and holds a master's degree in mass communication.
