Nigeria Commodity Exchange To Support Farmers

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The Nigeria Commodity Exchange has pledged to support farmers in Borno State to boost the level of agricultural output.

The Head, Corporate Communications and Strategy, Mr Chris Echikwu, said this in a statement on Thursday entitled, “Nigeria Commodity Exchange to assist farmers boost agric output.”

He said the Managing Director, NCX, Mrs Zaheera Baba-Ari, gave the assurance during a training organised by the exchange on agro-commodity trading and warehouse management for farmers, agro-processors and other market actors located in Marte and environs in Borno State.

The NCX boss urged the participants to organise themselves into cooperatives in order to effectively access the operations of the exchange.

She stated that participants stood to enjoy numerous benefits such as direct access to offtakers for better pricing of their produce, awareness of latest quality assurance practices, and availability of network of modern warehouses for storage of their agro-commodities.

The NCX boss also said that farmers through the support of the exchange could have access to commodity-backed credit facilities from Nigerian financial institutions.

The managing director who was represented at the event by the NCX Head of Operations, Mr Benson Lawal, commended the participants for attending the workshop despite the prevailing security challenges in the area.

Some of the agro-commodity traders and warehouse operators in Borno State who spoke at the event expressed their readiness to participate in the operations of the NCX, the statement said.

The statement said earlier, the House of Representatives member for Marte/Monguno/Nganza Federal Constituency, Mohammed Monguno, commended the NCX management for its support to farmers.

He promised to ensure the maximum participation of his constituents in the operations of the exchange in the area.

Monguno gave the assurance that NCX would be provided the necessary support to ensure that it succeeds in its operations in the area.

– Punch

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