In this engaging interview, the Managing Director and Chief Executive Officer, Lagos Commodities and Futures Exchange, Mr Akin Akeredolu-Ale, highlights how commodities ecosystem can drive the Nigerian economy and advises
the federal government on why Commodities Board is no longer relevant in the modern day financial market. Excerpts 6% growth of the Nigerian Gross Domestic Product ?
The commodity exchanges have made huge strides in recent years but nonetheless. there are still challenges being faced. To name a few: Commodity Stakeholders are still unaware and do not understand the role and benefits of Commodity Exchanges. This cuts across farmers, dealers, and investors.
The Federal Government should work with the SEC-licensed commodities exchanges to grow and develop the Commodities ecosystem and the Nigerian Economy.One of the primary roles of the Commodities Exchanges is to align all the stakeholders of the Commodities Ecosystem to contribute to the development of the Nigerian Economy through the Commodities ecosystem.
The Exchange has been highly visible in all activities about Lagos Rice Mill, Imota. What is driving this collaboration with the Lagos State Government? There is still a wide knowledge gap in understanding the basics of commodities exchanges in Nigeria. Are there plans to address this in order to attract investors into the market ?
At LCFE, one of strategies is hinged on the understanding that the current investing population in Nigeria is an aging one and if the new generation is not encouraged to invest in Nigeria, our capital market will be in trouble. There is a need to sensitize the youths as they are becoming more involved in the activities of today. This simply comes down to the increase in accessible information online and the technological inclination.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Commodities export will grow Nigeria's economy - SEC'Already, we have licensed a total of five (5) exchanges and also approved the trading and framework for operations of different instruments', an official said.
Read more »
Commodities Export Will Grow Economy –SECThe Securities and Exchange Commission (SEC) has said, Nigeria has various commodities that could be exported in a bid to grow the economy, provide jobs for
Read more »
SEC partners SON on commodities standardisationThe Securities and Exchange Commission says it has partnered with the Standards Organisation of Nigeria to develop standards for commodities meant for exports in a bid to grow the economy, provide jobs for Nigerians as well as provide the nation with foreign exchange.
Read more »
Intrigues, Power play over Akeredolu’s ill-healthIn the last few days, there has been anxiety over the health of the Ondo State governor, Arakunrin Oluwarotimi Akeredolu (SAN), with rumours of his demise making the rounds, particularly on social media.[ad] While some unconfirmed sources said the governor has been flown abroad for medication, some said he is currently in Ibadan where his personal doctors are attending to him. But his absence has allowed some individuals and groups to engage in power play to gain influence in politics and governance of the state.
Read more »
Group asks Akeredolu to prevent plot to 'impeach' deputy | TheCableIlaje Development Summit Group (IDSG), an advocacy group, says Rotimi Akeredolu, governor of Ondo, should prevent the alleged plot to impeach Lucky Aiyedatiwa, his deputy.
Read more »
Bedridden Ondo Governor, Akeredolu Absents Himself From President Tinubu’s Meeting With Governors | Sahara ReportersThe Ondo State Governor, Oluwarotimi Akeredolu, currently battling with an illness, was unable to President Bola Tinubu’s first meeting with Governors of the 36 States under the Nigeria Governors’ Forum, NGF, at the Presidential Villa, Abuja, on Wednesday. Checks by SaharaReporters, which had exclusively reported that the Ondo governor was bedridden in his residence in Ibadan, Oyo State, showed that Akeredolu absented himself from the NGF meeting and was therefore not on any of the photographs. Tinubu had met with the governors around 12:36pm on Wednesday.
Read more »