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The Chief Executive Officer of Falcon Corporation Limited, Mrs. Audrey Joe-Ezigbo, has warned that Nigeria’s ambition to build a liquid and investable domestic gas market by September 2028 is being threatened by inadequate infrastructure, weak payment guarantees and poor coordination across the gas value chain.
To take out the threat, she said the country must move beyond policy announcements and regulatory reforms to address the commercial and infrastructure bottlenecks preventing gas from reaching customers reliably and investors from recovering their investments.
The Falcon CEO stated this recently in her keynote address at the 4th Gas Investment Forum in Lagos, themed: “Powering Nigeria’s Domestic Gas Market: From Policy Architecture to a Functioning Market”.
She identified five critical requirements for a functional domestic gas market: reliable gas delivery, creditworthy demand, effective market design, wider market access, and adequate capital and competitiveness.
According to her, although Nigeria has established much of the policy and regulatory framework needed to develop its domestic gas market, the priority must now shift to implementation and the creation of commercial conditions that can attract sustainable investments.
She cited the Petroleum Industry Act, the evolving fiscal regime, NNPC’s Gas Master Plan 2026, the Domestic Base Price framework and the planned September 2028 transition to a willing-buyer, willing-seller market as important foundations for the sector.
However, she warned that the existence of these frameworks would count for little without reliable infrastructure, enforceable commercial agreements and confidence in payments across the value chain.
