Nigeria targets $400bn commodities market by means of UAE-LCFE deal

Nigeria is positioning itself as a gateway to Africa’s $1tn commodities market, concentrating on $400 bn in alternatives throughout agriculture, power, gold, and lithium by means of strategic partnerships between the Lagos Commodities and Futures Alternate and the United Arab Emirates.

Talking throughout a courtesy go to by the UAE Ambassador, Salem Al Jaberi, LCFE Managing Director Akin Akeredolu-Ale stated the collaboration will advance lithium processing, livestock growth, meals safety, and commodities buying and selling whereas leveraging private-sector-led initiatives to drive effectivity, capital formation, and infrastructure supply.

He cited tasks such because the Second Niger Bridge and Sukuk-backed highway networks as examples of structured non-public investments that ship measurable outcomes.

The Alternate is increasing its ecosystem of dealing member corporations and commodity brokers whereas selling gold buying and selling by means of LBMA-standard bars saved in Free Commerce Zones, providing tariff-free entry for institutional buyers, together with pension funds.

Akeredolu-Ale added that LCFE is growing involvement in large-scale rice manufacturing, livestock and fodder growth, and the manufacturing of export-ready natural produce. Memoranda of understanding have been signed with a number of state governments, whereas the UAE has been granted the primary proper of refusal on commodity exports.

Within the power sector, he stated reforms decentralising electrical energy technology have created non-public funding alternatives in metering, income assortment, and infrastructure optimisation.

Additionally talking, the Director-Common of AIM Congress, Walid Farghal, referred to as for better participation by entrepreneurs and youth within the commodities market, emphasising the position of digitisation, tokenisation, and strategic promotion in attracting international buyers.

“These initiatives show LCFE’s dedication to leveraging private-sector partnerships to drive inclusive development, deepen Nigeria’s commodities markets, and strengthen the nation’s place as a hub for Africa’s quickly increasing commodity economic system,” he stated.