Nigeria will lift price controls on natural gas by 2028
智通财经2026/09/25 08:36- Rabi'u Umar, Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, stated that Nigeria will stop regulating domestic natural gas prices on September 24, 2028.
- As Africa's largest oil producer, Nigeria has set an approximately two-year transition period aimed at establishing the necessary conditions for a smooth transition to a market-oriented framework based on voluntary transactions between buyers and sellers.
- The regulator also plans to issue natural gas distribution licenses in the next quarter to pave the way for market-based trading.
- From a market perspective, removing price controls means that natural gas pricing will be determined more by supply and demand, which may push up local gas prices in the short term but will help improve investment incentives and supply expectations.
- Going forward, attention should be paid to the progress of license issuance, whether supporting mechanisms are in place during the transition period, and the capacity of end-users and the industrial sector to absorb the changes.
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