President Tinubu spoke like a journalist during this session, raising issues and propositions.
The journalist's question was delivered with humour but carried depth: โWhy are you talking? Why not do it?โ
He has no reply.
Nigeria currently has four commodity exchanges:
1. Nigeria Commodity Exchange (NCX) โ Based in Abuja, focusing on agricultural commodities and extractives.
2. Lagos Commodities and Futures Exchange (LCFE) โ Based in Lagos, trading agricultural commodities, solid minerals, oil and gas, and currencies.
3. AFEX Commodities Exchange (AFEX) โ specialising in agricultural commodities.
4. JEX Markets โ Focused on natural gas and related derivatives under NMDPRA and SEC regulation.
Some of these exchanges are not functioning as effectively as expected. I know AFEX is operational and trading, and it is impacting the agricultural value chain. (you should open an account with them)
So the question again to Mr President: with your executive powers and 31 Governors, what have you done to expand or deepen the market access and impact of these exchanges, especially with ACFTA and the zero-tariff deal with China?
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