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, announced this at a Gas Market Maturity Workshop in Abuja, where stakeholders discussed conditions and milestones for moving from regulatory coordination to commercial contracting and competition. Umar noted that Section 167 of the Petroleum Industry Act provides for a gradual transition where commercial agreements between willing buyers and sellers take precedence over price regulation. The workshop aimed to develop a roadmap for achieving this market maturity within the targeted timeline.
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