NASS assures commodity exchange to foster economic growth

The National Assembly has assured that the Nigerian Commodity Exchange will foster more economic growth and development of the country.

House of Representative Committee on Capital Market and Institutions Chairman, Tajudeen Yusuf gave the assurance at a two-day capacity building on the workings and activities of the Nigeria Commodity Exchange.

Yusuf said the training was apt as it will enable lawmakers make informed budgetary decisions about the agency especially at this time that Nigeria is placing more emphasis on the diversification of its economy.

“As you know, your agency needs more money and legislative backing to excel in your endeavour, with this quality presentations and insight into what the exchange is doing, you will definitely get our support for the overall benefit of the country” Honourable Yusuf said.

“Without enough money through budgetary provision, the silos will not serve the purpose it was meant for” the lawmaker added.

Some members of the committee on Capital Market and Institutions who participated in the two day programme while acknowledging the importance of the NCX to the economic diversification agenda of the President Muhammadu Buhari’s administration agreed to ensure that the 9th assembly as a matter of urgent national importance formulate bills to enhance the status of the exchange.

Also, the Managing Director, Nigeria Commodity Exchange, Zaheera Baba-Adi, who was represented by the General Manager, Operations, Benson Lawal, assured the lawmakers of the exchange readiness to work with the National Assembly towards changing the face of the commodity market operation in the country.

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