Bauchi farmers, processors to enlist on commodity exchange

Farmers, merchants and processors in Bauchi State have been availed the opportunity of trading their commodities on the trading floors of the Nigeria Commodities Exchange (NCX).

This was made possible following a technical partnership, guided by the state’s Ministry of Commerce and Industry, between farmer groups and cooperatives in the state and the NCX. NCX is a commodity exchange platform under the Federal Ministry of Industry and Investment.

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Speaking at a capacity building workshop for stakeholders in the commodity exchange value chain in Bauchi State and its environs, the Managing Director (MD) of NCX, Mrs. Zaheera Baba-Ari, explained that the new partnership provided the state’s domestic and international consumers access to millions of tons of major commercially viable agro-commodities such as sesame, shea nut, maize, sorghum, paddy rice, groundnut, coffee, cassava, yam, cotton and livestock available in the state.

Represented by the NCX’ General Manager (GM) Operations, Mr. Benson Lawal, the Mrs. Baba-Ari said,  “NCX has since opened discussions aimed at creating a technical partnership with farmer groups and cooperatives in the state through the auspices of the state’s Ministry of Commerce and Industry to encourage farmers to dispose of their yields through the NCX’ trading floors. Several meetings have been held in this regard and it is hoped that the proposed partnership would kick off in the coming harvest season.

“It is envisaged that the proposed technical partnership being facilitated by the state government will avail domestic and international consumers access to millions of tons of major agro-commodities that are available in the state.”

She maintained that in recognition of these facts, NCX had established two delivery warehouses in the state, and thus enjoined commodity traders and consumers to patronise its trading floors as it was well positioned to give them the many benefits of an efficient and cost-effective commodity trading platform.

Also speaking, the Commissioner for Commerce, Alhaji Garba Dahiru, said the state was ready to mobilise stakeholders towards the success of the programme which he noted would add value and profit to the farming sector.

Represented by the commerce Permanent Secretary, Alhaji Samaila Ahmed, the commissioner reiterated the readiness of the state government to partner with agencies and groups that would improve the welfare of the people, assuring the farmers of better and rewarding experiences as they partnered with NCX.