11 December 2025
(Protocol observed)

Members of the National Assembly,
Honourable Ministers,
The Chief Executive, NMDPRA,
Regulatory leaders, industry stakeholders,
Distinguished Ladies and Gentlemen:

I am honoured to speak today on behalf of JEX Markets Limited at the presentation of Nigeria’s Pioneer Gas Trading Licence, and Clearing House & Settlement Authorization.

This is more than a licence.
It is a statement of national intent.

Nigeria is declaring that it is ready to move from potential to performance — from being gas-rich to being gas-powered; from informal trade to organized markets; from opacity to transparency; and from uncertainty to confidence.

JEX Markets is being established as Nigeria’s Energy Commodities Exchange, beginning with gas trading as our foundation. We will launch with spot and forward markets, and as liquidity deepens, advance to futures contracts.

We are not participants in the market — we are organizing the market itself. Our role is to provide neutral infrastructure where prices are discovered transparently, contracts are standardized, counterparty risk is managed, and settlement is guaranteed.

History teaches us that prosperity is not built on resources alone, but on the quality of institutions that organize them. Today, Nigeria is building such an institution for its gas economy.

ECONOMIC IMPACT

The implications of today’s event are transformational.

A transparent, credible gas market will unlock trillions of naira in investment, strengthen energy security, and support the expansion of manufacturing, petrochemicals, fertilizers, and power generation.

A trusted exchange will also unlock capital. Global investors go where prices are transparent and settlement is reliable. By reducing risk and improving price integrity, JEX will lower financing costs and attract long-term capital into Nigeria’s gas value chain.

In simple terms:

This market means factories will run, power stations will light cities, jobs will grow, foreign exchange will be preserved, and Nigeria’s economy will become more resilient.

This licence is therefore an infrastructure of national importance.

OUR RESPONSIBILITY

We understand the responsibility entrusted to us.

Being Nigeria’s pioneer energy commodities exchange demands world-class governance, regulatory discipline, and institutional integrity. JEX is committed not merely to building a business — but to building a national market institution that endures.

With regulatory clearance from the SEC and aligned market architecture in place, our focus now shifts to execution. Between now and our planned market launch in 2026, we will work across the industry to finalize standardized contracts, delivery protocols, quality standards, pricing methodology, and clearing systems.

In parallel, we are rolling out a structured market-readiness programme so that when JEX goes live, the industry will not simply be informed, but fully prepared to transact.

PARTNERSHIP & ACKNOWLEDGMENTS

We see ourselves as partners to Government, industry, investors and consumers in delivering a credible and fair energy market.

We commend NMDPRA and SEC for their professionalism and regulatory leadership.

We acknowledge our technical partners — Trayport, CSCS, FMDQ Clear, Coronation, Meristem and Global Career Company — for supporting this vision.

We recognize the Presidency, Honourable Ministers and the National Assembly for championing gas as the engine of Nigeria’s industrial future.

CLOSING

Distinguished Ladies and Gentlemen,

Today, Nigeria did not just issue a licence.
Nigeria launched a market.

A market that will attract investment, discipline pricing, reduce risk and drive growth.

On behalf of the Board and shareholders of JEX Markets Limited, we accept this responsibility with humility and resolve.

We are ready to serve Nigeria’s energy future.

Thank you.
God bless the Federal Republic of Nigeria.

Oscar N. Onyema, OON
Chairman, JEX Markets Limited