Nigerian Commodity Exchange Begins Operations In Benue

The Nigerian Commodity Exchange (NCX) has begun  operations in Benue State as it has opened an operational office at the Benue Investment and Property Company Limited (BIPC) to strengthen agro commodities trading and value chains in the state.

The BIPC and NCX on November 7, 2025 signed a partnership agreement aimed at addressing post-harvest challenges and improving farmers’ access to markets.

BIPC’s group managing director, Dr Raymond Asemakaha, said the initiative would play a pivotal role in regulating and overseeing trade commodities in Benue State as a key step towards boosting the state’s economy, creating jobs and improving the lives of our people, while deepening agribusiness investments in line with the vision of Governor Hyacinth Alia.

He commended the managing director of NCX, Dr Anthony Atuche, for successfully implementing the partnership between both organisations.

Asemakaha noted that the NCX would introduce a warehouse receipt system in the state where farmers would be able to store their produce in certified warehouses and receive receipts that serve as proof of ownership and access to credit.

According to the BIPC GMD, the warehouse receipt system will reduce the risk of commodity price fluctuation, improve transparency and accountability in commodity trading, enhance market efficiency and price discovery and install cleaning machines for harvested products.