The Federal Government of Nigeria has officially launched the country’s first online gas trading, clearing, and settlement platform, marking a major milestone in modernizing the nation’s natural gas sector. The platform is designed to enhance transparency, improve pricing, and boost liquidity in the domestic gas market.

The launch, officiated in Abuja, included the issuance of the first Gas Trading Licence to JEX Markets Limited, authorizing the company to operate the digital trading and settlement platform. This initiative positions Nigeria as the first African country to establish such a technology-driven gas marketplace.

Speaking at the event, the Minister of State for Petroleum Resources (Gas), Hon. Ekperikpe Ekpo, described the launch as a “new dawn” for Nigeria’s gas industry, emphasizing that it would attract investment, enhance transparency, and facilitate efficient trading.

The platform is expected to support transparent price discovery, secure transactions, and efficient market operations, aligning with global best practices and the objectives of the Petroleum Industry Act. Analysts note that this development could significantly boost investor confidence, stimulate industrial gas usage, and create opportunities for infrastructure development in the energy sector.

With this move, Nigeria takes a bold step toward a technology-enabled, regulated gas market, opening the door for more competitive pricing and wider access to natural gas for businesses and households alike. Visit www.jocomms.com for more news.