The federal government has set a 24-month target to transition Nigeria's domestic gas market to a fully commercial willing buyer, willing seller regime. The Authority Chief Executive, Rabiu Umar, disclosed this at a Gas Market Maturity Workshop where stakeholders across the gas value chain deliberated on conditions and milestones required to move the market from heavy regulatory coordination towards commercial contracting and competition. Umar said Section 167 of the Petroleum Industry Act provides for a gradual transition to a market where commercial agreements between willing buyers and sellers take precedence over price regulation. The Decade of Gas secretariat is seeking a roadmap for the transition.
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