A sum of N100 billion is been planned as part of the initiative to address the challenge of inadequate liquidity in Nigeria’s commodity market which is hampering its operation
The fund which is being initiated by the Commodity Brokers Association of Nigeria (CIBN), in collaboration with other stakeholders, is expected when it comes on stream to boost the operations of the market.
Efforts are also being made by the stakeholders to incorporate a funding window for warehousing development, farm land acquisition and leasing, and commercial agric lending, as a way of complementing NIRSAL policy framework, floated by the Federal Government, recently.
Altine Shehu Kajiji, president of CIBN, gave this hint, at the weekend, during a stakeholders’ meeting with players in agricultural value chain in the country, held at the trading floor of the Abuja Security and Commodity Exchange (ASCE) in Kano.
Kajiji said the moves are proactive steps conceived to stimulate players to engage in full gamut of the value chain and building critical mass and capacity that will catalyse into value-driven agro-businesses and commodity exchange operations nation-wide.