Nigeria to lift natural gas price controls in 2028

Citing Rabiu Umar, the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Nigeria, Africa's largest oil producer, will cease regulating natural gas prices in the domestic market on September 24, 2028. The two-year transition period is intended to establish the necessary conditions for a smooth shift to a market-based framework of "willing buyer, willing seller" transactions. The regulator plans to issue natural gas distribution licenses in the next quarter.