Nigeria, Africa's largest oil producer, will stop regulating gas prices in the domestic market on September 24, 2028, citing Rabiu Umar, CEO of Nigeria's Midstream and Downstream Petroleum Regulatory Authority. The two-year transition period aims to establish the necessary conditions for a smooth transition to a market-based framework of “voluntary transactions between buyers and sellers.” The regulator plans to issue gas distribution licenses in the next quarter.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.