News Investigators/ The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has set Sept. 24, 2028 as target date for transition to a more competitive and commercially driven Willing Buyer, Willing Seller (WBWS) gas market.
Rabiu Umar, Authority Chief Executive, NMDPRA, made this known on Thursday in Abuja at a high-level Gas Market Maturity Workshop convened by NMDPRA, 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 priority actions, sequencing and responsibilities for the transition.
Mr Umar, in a statement signed by Edu Antai,
Lead Technology/Media Relations, Decade of Gas said Nigeria should target a 24-month transition to a more competitive and commercially driven Willing Buyer, Willing Seller gas market.
He said that the proposed transition would set Sept. 24, 2028 as the target date for moving toward a fully market-driven gas pricing framework.
He tasked industry stakeholders to develop clear and measurable markers and to deliver on commitments required to grow Nigeria’s gas production and consumption, while ensuring that gas remains affordable for Nigerians.
The NMDPRA boss said market readiness would be assessed through certain indicators.
He listed the indicators to include 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.
In his remarks, Mr Ed Ubong, Coordinating Director, Decade of Gas, expressed confidence that Nigeria could achieve a fully functioning WBWS market before 2030.
He identified supply, infrastructure, demand, gas-to-power and LPG as critical to market maturity, noting a gas supply ambition of 12.6 Bcf/d by 2030 and 16 key infrastructure projects, with the OB3 pipeline already completed.
He highlighted other projects as the AKK pipeline, Escravos – Odidi connection and the connection of offshore Seplat fields to QIT in Eket.
On demand, the Coordinating Director said more than 60 projects, representing approximately 15 Bcf/d of potential demand by 2030, had been identified.
He said that the Umar’s chairmanship was particularly significant given NMDPRA’s central role in addressing the pricing and economic principles that cut across supply, demand, infrastructure, power and LPG.
In her goodwill message, Mrs Yetunde Taiwo, President of the Nigerian Gas Association (NGA), described the transition to a WBWS market as a long-standing priority of the Association.
Taiwo said Nigeria’s gas industry had made significant progress over the past 10 years.
She, however, advised that the transition must be guided by clear and measurable milestones, supported by collaboration among government, regulators and industry to attract investment.
The workshop focused on the conditions required to deepen competition, strengthen commercial contracting and progressively transition Nigeria towards a more market-driven WBWS gas market in line with the Petroleum Industry Act (PIA).
NAN