Nigeria is positioning itself as a key gateway to Africa’s $1 trillion commodities market, aiming to capture $400 billion in opportunities through strategic collaboration with the United Arab Emirates. The partnership, anchored by the Lagos Commodities and Futures Exchange (LCFE), focuses on sectors including agriculture, energy, gold, and lithium, signaling a major push to strengthen Nigeria’s role in global trade.
During a courtesy visit by UAE Consul General Salem Al Jaberi, LCFE Managing Director Akin Akeredolu-Ale highlighted that the partnership will drive lithium processing, livestock development, food security, and commodities trading. He emphasized that private-sector-led initiatives will be central to boosting efficiency, attracting capital, and delivering infrastructure projects that offer measurable economic impact.
Akeredolu-Ale pointed to successful structured investments like the Second Niger Bridge and Sukuk-backed road networks as models for private investment in national development. He also revealed that LCFE is expanding its network of dealing member firms and commodity brokers while promoting gold trading through LBMA-standard bars stored in Free Trade Zones, providing tariff-free access for institutional investors, including pension funds.
The Exchange is also increasing its involvement in large-scale rice production, livestock and fodder development, and export-ready organic produce. Several memoranda of understanding have been signed with state governments, giving the UAE first rights of refusal on commodity exports. In the energy sector, decentralization reforms in electricity generation are creating private investment opportunities in metering, revenue collection, and infrastructure optimization.
Walid Farghal, Director-General of AIM Congress, called for more participation from entrepreneurs and youth in the commodities market. He stressed the importance of digitization, tokenization, and strategic promotion in attracting global investors. “These initiatives demonstrate LCFE’s commitment to leveraging private-sector partnerships to drive inclusive growth, deepen Nigeria’s commodities markets, and cement the country’s position as a hub for Africa’s rapidly expanding commodity economy,” he said.
source: punch