• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Friday, June 6, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

LCFE Advocates Utilisation Of Commodities Exchanges For Food Security

by Olushola Bello
1 year ago
in Business
Share on WhatsAppShare on FacebookShare on XTelegram

The Lagos Commodities and Futures Exchange (LCFE) has urged the federal government to utilise the commodities exchange ecosystem as a strategy to boost food security, create job opportunities and enhance Nigeria’s capacity to earn foreign exchange.

Advertisement

In an interactive session with commodities correspondents in Lagos, managing director and chief executive officer of LCFE, Akin Akeredolu -Ale commended the efforts of the federal government in addressing the issue of food security, explaining that, government could achieve better if commodities exchanges were involved in the processes.

He said: “Commodities Exchanges connect small holder farmers in rural areas to large markets. This increase earning income capacity, a key aspect of household food security. They facilitate food storage through their warehouses. Through warehouse receipts small holder farmers can access loans to purchase fertilizers and other materials.”

Akeredolu -Ale noted that, “the Nigerian economy is experiencing a food crisis with the fast-rising food costs, cost of transportation, insecurity, poor infrastructure, and foreign exchange instability. All these have affected the ability of commodity stakeholders to successfully produce food and transport it to where its needed.”

He noted that, President Bola Tinubu’s administration and the Governors of Niger State, Mohammed Bago and the Governor of Lagos, Governor Babajide Sanwo-Olu have taken strong decisive steps to secure the Nation’s food supply chain.

RELATED

BetKing Promotes Social Impact At NSF

BetKing Promotes Social Impact At NSF

14 hours ago
Sallah: UNYF felicitates with muslims, decries worsening living conditions

Oxfam Urges Nigerians To Embrace Responsible Plastic Use

14 hours ago

“In Lagos State, the launch of the Lagos Rice Mill has produced over 100,000 bags of rice in 2023. The mill’s products rival any global rice brand being imported into the country with their quality, taste and color,” he said.

He pointed out that, “Lagos Commodities and Futures Exchange since receiving its license in 2019 has propagated the need for the investing community to focus on the Commodities Ecosystem .

as not only the next Gold mine but a route to driving the GDP of the economy from single digit to double digits.

 LCFE has called for attention to the Commodities Ecosystem as a $1 trillion economy, rich in Agricultural, Oil and gas and Solid mineral commodities.

He added that LCFE kicked off the year 2024 with a series of agreements geared towards the development of the Commodities Ecosystem, saying, “some of these agreements include the National Coconut Development and Propagative Initiative (NATCODEV) for the growth of the Coconut Value Chain. The Exchange is also working on a proposal for a new rice mill will be coming on stream in the coming months to drive further development in the rice value chain.

“Commodities Exchanges are known to contribute to the stability and price discovery of the Commodities ecosystem of their economy and LCFE has shown significant contributions with plans to dramatically contribute to the introduction of structured financing with the help of the capital market.”

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

START EARNING US DOLLARS as a Nigerian ($35,000) monthly. Companies are sacking their workers due to AI (artificial intelligence), business owners are in panic mode. Only the smart will make it. Click here


SendShareTweetShare
Previous Post

BDCs’ Recall To Forex Market Boosts Naira Recovery – Operators

Next Post

Ooni Expresses Satisfaction Over Ajiboye’s Appointment As NICO Boss  

Olushola Bello

Olushola Bello

You May Like

BetKing Promotes Social Impact At NSF
Business

BetKing Promotes Social Impact At NSF

2025/06/06
Sallah: UNYF felicitates with muslims, decries worsening living conditions
Business

Oxfam Urges Nigerians To Embrace Responsible Plastic Use

2025/06/06
Airtel Expands Digital Ecosystem With In-App Shopping Platform
Business

Airtel Expands Digital Ecosystem With In-App Shopping Platform

2025/06/06
NES Demands Stakeholder Collaboration To Curb Plastic Pollution
Business

NES Demands Stakeholder Collaboration To Curb Plastic Pollution

2025/06/06
AFN Board Members Write Minister, Lament Crisis Under Okowa’s Leadership
Business

FG Reaffirms Global Leadership In Entrepreneurship At 2025 GEC

2025/06/06
CSOs Hail Komolafe’s ‘Giant Strides’ As NUPRC Boss
Business

2024 Bid Rounds Violated No Oil Licencing Guidelines – Komolafe

2025/06/06
Leadership Conference advertisement

LATEST

ACF Mourns Uwais, Describes Ex-CJN Jurist Of Repute

Tolu Arokodare On Target As Super Eagles Share Spoils Against Russia

Godly Parenting Summit To Empower Parents For Brighter Future

Eid-al-Adha: No Nation Rises Without Unity, Sacrifice — Shettima

Makinde Advocates 6-year Single-term For Political Office Holders

Fire Guts Section Of Kano Phone Market On Eid Day

Hardship: El-Rufai, Amaechi Owe Nigerians Apology — Shehu Sani

Raphinha Named 2024/2025 La Liga Player Of The Season

Benue Gov’t Directs Residents To Vacate Flood-prone Areas

Gabriel Signs New Long-term Deal At Arsenal 

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.