The Securities and Exchange Commission (SEC) on Thursday urged banks and insurers to mobilize capital to support the “entire gas value chain” following the official launch of Nigeria’s first online gas trading, clearing, and settlement platform by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The SEC Director-General, Dr. Emomotimi Agama, made the call at the launch event held in Abuja.
“To the financial community banks, asset managers, and insurers: develop the products. Create funds, structured notes, and hedging instruments linked to this new asset class. Mobilize capital to support the entire value chain,” he said.
This comes alongside the presentation of a Gas Trading License (GTL) and Clearing House and Settlement Authorization to Jex Markets Limited for the trading and settlement of wholesale gas in Nigeria.
Speaking virtually, Agama called for a collaborative journey, emphasizing that the platform launch is not an end but a beginning, noting that newly licensed entities carry a great responsibility as pioneers.
According to him, commitment to the highest standards of compliance, ethics, and professionalism by licensees will determine the pace at which the gas market gains depth and global respect.
To gas producers, distributors, and major off-takers, Agama urged them to engage with the platform.
“See it not as a constraint but as a liberation—a tool for better risk management, portfolio optimization, and access to new capital,” he advised.
He described the development as foundation-laying for a Nigeria capable of transitioning from a gas-producing nation to a gas-trading hub for the region.
He emphasized the need for relevant stakeholders and authorities to leverage finance to fuel real economic growth and diversification, while pledging the SEC’s commitment to collaborate with the Ministry of Petroleum Resources, the NMDPRA, and all stakeholders to nurture the gas market with wise, progressive, and stability-focused regulation.
Earlier today, Naijaonpoint reported that the Federal Government of Nigeria officially launched the country’s first online gas trading, clearing, and settlement platform.
Ahmed added that as the regulator of Nigeria’s midstream and downstream petroleum sector, the Authority recognizes that the true test of licensing JEX Markets is not in the ceremony of today but in the transformation it must deliver tomorrow.