Vibrant commodities exchange’ll improve forex earnings – Osinbajo

The  development of a vibrant commodities trading ecosystem will help to diversify the economy away from dependence on crude oil for improved government revenue and foreign exchange earnings

 Vice President Yemi Osinbajo stated this in Lagos at a Roundtable on Nigerian Commodities Trading Ecosystem held by the Securities and Exchange Commission, (SEC)

Osibanjo who was represented by Dr. Yemi Dipeolu, Special Adviser to the President on Economic Matters, Osinbajo said the Commodities Trading Ecosystem ecosystem is of paramount interest because Nigeria has an abundance of natural resources and accordingly a comparative advantage in agriculture, solid minerals and oil and gas, hence emphasis in the immediate term is the agricultural sector.

Osinbajo said the Federal Government attaches great importance to an active and vibrant capital market which will contribute to national growth and development.  

He said in order to achieve this objective, the capital market has to operate at an optimum level which is why the implementation of the 10 year Capital Market Master Plan remains a key priority.  

In her welcome address, Acting Director General of the SEC, Ms. Mary Uduk said the Commission is collaborating with all relevant stakeholders to implement the 10-year Capital Market Master Plan with the aim of making Nigeria’s capital market one of the world’s deepest and most liquid as well as the largest in Africa by 2025

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