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COMMERCIAL LICENSE REQUIREMENTS

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Wholesale Gas Supply License Requirements May 2023

b. Clearly defined Standard Operating procedure for the Company
c. Evidence
of
licenses,
permits
or
approvals
issued
by
the
Authority/Commission such as but not limited to: MDPGISP, etc.
d. Nigeria Social Insurance Trust Fund (NSITF) Certificate
e. Membership requirements, draft detailed by-laws and market trading rules
on platforms covering the aspects specified in the Gas Trading and
Settlement Regulations, 2023.

4.
CLEARING HOUSE AUTHORISATION
a. Detailed statement on the clearing and settlement system of clearing
house.
b. Details of the clearing and settlement charges and other charges, if any,
levied by your Clearing Corporation or clearing house.
c. Detailed Risk Management and margin Mechanism that will ensure market
safety and integrity.
d. Evidence of establishment of a SGF Account
e. Details of contract types such as intra-day, day ahead, term ahead, and
like other contract proposed to be cleared and settled in your Clearing
Corporation or clearing house. State the period of delivery, payment, and
the settlement mechanism in each case.
f. Details of business continuity plan including details of disaster recovery site.

5.
LICENSE FEES
1. The following fees specified in Table I, shall be payable for the issuance of
a gas exchange licence or clearing house authorisation by the Authority —
TABLE I
S/N
ACTIVITY
FEE (USD)
1
Gas Trading Licence
100,000
2
Clearing House Authorisation
100,000

2. The annual administrative charges specified in Table II, shall be payable by
a gas exchange or a clearing house for every subsequent financial year
after issuance of the licence or authorisation granted by the Authority, and