The Nigerian Commodity Exchange (NCX) has began operations in Benue State as it 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 the 7 of November 2025, signed a partnership agreement aimed at addressing post-harvest challenges and improving farmers’ access to markets.
Speaking at the commissioning, BIPC’s group managing director, Dr Raymond Asemakaha, said the initiative will play a pivotal role in regulating and overseeing trade commodities in Benue state as key step towards boosting, “ the state economy, creating jobs and improving the lives of our people, while deepening agribusiness investments in line with the vision of His Excellency, Rev. Fr. Dr. Hyacinth Iormem Alia, the Executive Governor of Benue State.”
BIPC boss commended the managing director of NCX, Dr Anthony Atuche, for successfully implementing the partnership between both organizations.
Asemakaha noted that the NCX will introduce a warehouse receipt system in the state were farmers will be able to store their produce in certified warehouses and receive receipts that serve as proof of ownership and access to credit for farmers and traders.
According to the BIPC GMD, the warehouse receipt system will reduced risk of commodity price fluctuation , “Improve transparency and accountability in commodity trading, and enhanced market efficiency and price discovery and installation of cleaning machines for the harvest products,” Asemakaha stated.
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