The Securities and Exchange Commission (SEC) has joined forces with the Standard Organisation of Nigeria (SON) to establish quality standards that will enhance the international acceptability of Nigeria’s agricultural commodities and generate foreign exchange.
Lamido Yuguda, Director-General of SEC, emphasized the potential for Nigeria’s diverse commodities to be exported, fueling economic growth, job creation, and forex generation. Despite the country’s abundant agricultural resources, poor standardization has hindered its performance in the international market compared to smaller African counterparts.
The collaboration aims to address this issue and boost the economy through increased exports. As part of the Capital Market Master Plan, SEC has formed a Technical Committee on Commodities Trading Ecosystem to identify challenges and develop a roadmap for a vibrant ecosystem.
Additionally, the commission has set up the Securities Issuers Forum in partnership with the Nigeria Employers Consultative Association (NECA) to address concerns faced by issuers. SEC is focused on encouraging listings, diversifying the equities market, and fostering impactful innovation in collaboration with various stakeholders.
The development of robust capital markets facilitates savings, investment, and resource allocation for high-yield projects. The commission remains committed to supporting Nigeria’s capital market for sustainable growth.
