The Vice President, Professor Yemi Osinbajo, said there is a need to focus on developing the country’s agricultural value chain, having a proper commodity market with the right logistics that would be mutually beneficial to farmers and consumers.
According to a statement issued by his aide, Laolu Akande, Osinbajo made the call while receiving a delegation from Gezawa Commodity Market and Exchange, a Kano State-based private company that provides a specialised organised market, operating efficient transaction and delivery of agricultural, solid minerals, and energy-based commodities.
The delegation was led by the managing director of the company, Mr. Muhammad Rabi’I Elyakub.
The vice president charged stakeholders on developing the agricultural value chain, especially, to ensure a proper market is created in a bid to get value, adding, “we must also make sure that we are able to resource that chain well.”
Osinbajo acknowledged that, “in Nigeria, we are top producers of so many different agricultural products as well as minerals. It is in adding value, ensuring the value chain works effectively, ensuring that we can process, store and trade that is really where the missing link is.”
Elaborating on the importance of the agricultural value chain, he reiterated that, “I do not know of any society that has been able to develop the whole value chain from farm to table without a very vibrant commodity exchange.”
He lauded the idea of a private commodity exchange, noting that, “a private commodity exchange is very important. I am a strong believer in the private sector’s involvement.”
Osinbajo commended the commodity company for having made very quick progress in a very short time, saying that the company has covered substantial ground.
While giving a presentation, the chief financial officer of Gezawa Commodity Exchange, Dr. Abdullahi Ya’u highlighted the importance of having a commodity exchange market, stating that without an exchange, it would take Nigeria ages for the farmers, producers, traders in commodities to discover their potential.