The Federal Government has reaffirmed its commitment to transforming Nigeria’s agricultural trade system by strengthening the role of the Nigeria Commodity Exchange (NCX) in creating transparent, structured markets for farmers and agribusinesses.

This was discussed at a stakeholders workshop held on Thursday, where participants, including policymakers, investors, and agricultural leaders, explored ways to reposition the NCX as a national hub for market efficiency and rural development.

Speaking at the event, Dr. Jumoke Oduwole, Minister of the Federal Ministry of Industry, Trade, and Investment (FMITI), emphasised the exchange’s key role in supporting Nigeria’s non-oil sector growth.

“At the FMITI, we recognise the NCX as a key anchor institution in our efforts to grow the non-oil sector. We remain committed to working with relevant MDAs and partners to unlock the full potential of the Exchange in driving inclusive economic growth,” the ministry stated.

The workshop was organised by the Nigeria Commodity Exchange (NCX) under the leadership of Mr. Anthony Atuche, Managing Director and CEO, who was praised for his vision and efforts to revitalise the institution. 

Participants highlighted the need to improve commodity pricing, promote transparency in transactions, and encourage private-sector participation.

The discussions also touched on linking rural producers to national and international markets, enhancing farmer incomes, and aligning NCX operations with broader government initiatives focused on food security and export diversification.

The Federal Government’s renewed focus on repositioning NCX is expected to improve value chain efficiency, reduce post-harvest losses, and increase investor confidence in Nigeria’s agricultural economy.