The Investments and Securities Bill has been described as a game changer that is capable of enabling the commodities trading ecosystem to thrive thereby diversifying the nation’s economy and provide the nation with foreign exchange.
This was stated by the Managing Director of LFCE, Mr. Akin Akeredolu-Ale, while commenting on the ISB which was recently passed by the House of Representatives.
He stated that Nigeria Is a commodities country as a better part of the GDP by way of production comes from the commodities ecosystem and urged that Senate to ensure swift concurrence on the Bill.
“We need that concurrence by the Senate as quickly as possible. I am very happy that the NASS has taken it upon themselves as well as the SEC to push this bill. That bill is a game changer for the Commodities Ecosystem, and also a game changer for Nigeria as a commodities country. For now, a lot of commodities being traded is still in the informal sector, the bill would create structure and all the leakages from taxation and revenue will be taken care of by this bill.”
