The Federal Government is set to hold a strategic stakeholders’ workshop aimed at accelerating the maturity of Nigeria’s gas market.

The engagement is being put together by the Ministry of Petroleum Resources (Gas) alongside the Decade of Gas Secretariat and the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA.

According to organisers, the workshop will bring together players across the entire gas value chain to deliberate on how to make the market more competitive, transparent and commercially viable.

Central to the discussions will be how to evolve Nigeria’s gas commercial framework under the Petroleum Industry Act, PIA, from a regulated price regime to a fully market-driven structure.

Stakeholders will also explore options for a sustainable gas pricing model — one that protects end-users from high costs while still guaranteeing enough incentives to attract fresh investments into upstream gas development and boost domestic supply.

Another key objective is to develop clear benchmarks to measure market readiness for the adoption of willing-buyer, willing-seller arrangements across different segments of the gas industry.