The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has set September 24, 2028 as the target date for transitioning to a more competitive, commercially driven “willing buyer, willing seller” gas market.

NMDPRA’s chief executive, Rabiu Umar, disclosed this on Thursday in Abuja at a high-level Gas Market Maturity Workshop convened by NMDPRA, the Ministry of Petroleum Resources, and the Decade of Gas Secretariat. The workshop was designed to validate the gas market maturity framework, assess Nigeria’s current position, and agree on priority actions, sequencing, and responsibilities for the transition.

Mr Umar, according to a statement on Thursday, said Nigeria should target a 24-month transition to a more competitive and commercially driven market. He said that the proposed transition would set September 24, 2028 as the target date for moving toward a fully market-driven gas pricing framework.

He tasked industry stakeholders to develop clear, measurable markers and deliver on commitments required to grow Nigeria’s gas production and consumption, while ensuring gas remains affordable for Nigerians.

The NMDPRA boss said it would assess market readiness through certain indicators. He listed the indicators as the availability and diversity of gas supply, the quality of buyers and sellers, access to infrastructure, reliability of contracts and payments, market information, and credible price signals.

He also disclosed that NMDPRA was nearing completion of its gas distribution network/gridding exercise, with plans to issue Gas Distribution Licences to qualified companies in the fourth quarter of 2026.

“This is alongside efforts to deepen domestic utilisation of Liquefied Petroleum Gas (LPG) and Liquefied Natural Gas (LNG), and reduce import dependence,” he said.

(NAN)