SEC Commits to Fostering Growth of Commodities Exchanges in Nigeria
By Patience Ikpeme
The Securities and Exchange Commission (SEC) has reiterated its commitment to promoting innovation and fostering collaboration to position commodities exchanges as vital drivers of economic growth, job creation, and poverty alleviation in Nigeria.
Speaking at a meeting with stakeholders in Abuja, SEC Director General, Dr. Emomotimi Agama, emphasized the Commission’s role in supporting the sustainable development of commodities exchanges.
“Our role in sustaining commodities exchanges in Nigeria cannot be overlooked because at the heart of these exchanges’ functionality is the SEC whose regulatory oversight plays a pivotal role in ensuring their sustainability and credibility,” Agama stated.
Commodities exchanges, he explained, facilitate the efficient buying and selling of commodities, providing farmers, traders, and investors with standardized contracts that mitigate risks and improve market access. These exchanges also play a crucial role in addressing post-harvest losses and stabilizing commodity prices.
Dr. Agama highlighted the SEC’s vision to create an enabling environment for commodities exchanges, protect investors, and develop a strategic framework that will drive the sector’s growth. He noted the establishment of the Commodities Ecosystem Technical Committee, a key initiative stemming from the Capital Market Master Plan, to address the specific needs of the commodities market.
Recognizing Nigeria’s commodity-rich landscape, Agama urged stakeholders to tap into the available opportunities. He announced that the SEC, in collaboration with the Federal Ministry of Trade and Investment, will organize the second International Commodities Conference later this year.
“For these benefits to be realized, the SEC Nigeria must remain committed to ensuring the integrity and proper functioning of the exchanges,” Agama emphasized.
The SEC’s commitment to fostering the growth of commodities exchanges aligns with the government’s broader economic diversification agenda and its efforts to leverage the agricultural sector for economic development and job creation.
