FG to end regulated gas pricing in 2028

Nigeria is set to end regulated pricing in its domestic gas market by September 24, 2028, as the Nigerian Midstream and Downstream Petroleum Regulatory Authority aims to transition to a fully established willing-buyer, willing-seller framework. The Chief Executive of NMDPRA, Rabiu Umar, disclosed this at a workshop organized under the Decade of Gas initiative, emphasizing that the transition will be based on measurable conditions demonstrating the maturity of different segments of the gas market.

Umar highlighted that the shift from a regulated market to one driven by commercial contracts between willing buyers and sellers is in line with President Tinubu's investment reforms and aligns with the goal of becoming a gas-powered economy by 2030.

Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.