Nigerians Stand to Gain from Commodity Exchange Hugely-MD

Zambian economy
  • Nigerians Stand to Gain from Commodity Exchange Hugely-MD

The Managing Director of Nigeria Commodity Exchange (NCE), Mrs. Zaheera Baba-Ari, has said Benue State as the food basket of the nation with a lot of agricultural opportunities stood to benefit greatly if it harnessed the potential of commodity exchange being offered by the NCE.

Ari, represented by the Head of Corporate Communication of NCE, Mr. Chris Echikwu explained that Benue State as food basket of the country will benefit more if the opportunities were properly harnessed by the people with effective partnership with the Nigeria Commodity Exchange.

He gave the advice while presenting a keynote address at a training programme organised by the Nigeria Commodity Exchange in conjunction with Sandstone Associates Ltd for men, women and youths in Makurdi

The Managing Director further highlighted the Vision and Mission of NCE to be a global market player in commodity trade facilitation and intermediation in a manner that will promote economic diversification and sustainable growth of the Nigerian economy as well as develop a robust trading infrastructure that will be managed by a team of nifty workforce for a global access to Nigerian agricultural produce and solid minerals market.

The papers presented include; Commodity Market Eco – System by Chris Echikwu, Spots Market Operations by Kingsley Deputy Manager Operations, Basic Assaying by Dr. Khadijat Abdulaziz Head of Analysis Control NCE and Introduction to Warehousing by Mr. Abiodun Sanusi.

In his speech, Hon. Dickson Tarkighir said the lofty benefits derived from doing business with Nigeria Commodity Exchange (NCE), by effective linkage of farmers to the market, promotion commodity pricing efficiency, facilitation of commodity-backed by lending by banks through warehouse receipt trading among many other benefits will go a long way to change how agricultural businesses are done.

Tarkighir, a former member represented Makurdi/Guma in the 8th National Assembly also told participants from Makurdi/Guma to take the training seriously in order to apply the knowledge acquired in their respective endeavours.

He further stated that Agriculture has remained the only alternative to crude oil now that diversification of the country’s economy have become necessary due to the instability and recession in the Country’s economy.

He added that farmers should prepare themselves properly in their respective areas and embrace NCX activities with a view to excelling in their endeavors.

The 8th National Assembly member commended the organisers of the training and urged them to extend same to other states of the Nation that are yet to have the presence of NCX.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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