Lagos Commodities Exchange Lists N23.4bn Eko Rice Contracts

The Lagos Commodities and Futures Exchange (LCFE) has listed Eko Rice Classic Contracts valued astatine N23.4 billion, marking a large milestone successful the translation of Nigeria’s cultivation and commodities sectors.
A full of 3,000 contracts were listed astatine an archetypal terms of N60,000 each, appreciating by 10 per cent to N66,000 astatine the adjacent of trading connected September 23, 2025, a beardown denotation of capitalist assurance and marketplace potential.

This landmark listing highlights LCFE’s ongoing committedness to reforming Nigeria’s commodities ecosystem by fostering greater transparency, liquidity, and concern opportunities crossed the worth chain.

The director-general of Securities and Exchange Commission (SEC), Dr. Emomotimi Agama said, “Nigeria is an agrarian nation, yet for galore years, we lacked a commodities speech that genuinely reflects the worth of our earthy resources. Today’s listing marks a caller section successful our economical history.

“The motorboat of Eko Rice Paddy Contracts is simply a corporate measurement towards diversifying our system distant from crude oil. It volition fortify the Made-in-Nigeria brand, beforehand standardisation, and guarantee prime control. I look guardant to the time erstwhile countries similar Ghana, Mali, and Côte d’Ivoire import atom from Nigeria.”

Lagos State Commissioner for Agriculture, Abisola Olusanya, speaking connected behalf of Governor Babajide Sanwo-Olu, praised LCFE for the initiative.

“This listing demonstrates that a well-structured cultivation assemblage tin thrust economical maturation and make sustainable employment for millions. Eko Rice volition play a captious relation successful reducing atom importation and boosting Nigeria’s overseas speech earnings,” she asserted.

Lagos State’s Special Adviser connected Agriculture and Food Systems, Dr. Oluwarotimi Fashola, applauded LCFE for introducing innovation and gathering spot wrong the commodity market.

He emphasised that agriculture successful Nigeria should beryllium seen not lone arsenic a means of sustenance but besides arsenic a viable concern opportunity.

The managing manager and main enforcement serviceman of LCFE, Akin Akeredolu-Ale described the Eko Rice Classic listing arsenic a pivotal improvement for Nigerian agriculture.

“This is much than conscionable a declaration listing; it is simply a watershed infinitesimal for Nigeria’s commodities market. The N23.4 cardinal Eko Rice Classic Spot Contract shows that agriculture is not lone viable but bankable. It sets a benchmark for prime and reinforces the captious relation of commodity exchanges successful nationalist development,” helium said.

Also, the president of LCFE, Onyenwechukwu Ezeagu stated that the listing sends a wide connection to the planetary community, Nigerian farmers, processors, innovators, and brokers are evolving and acceptable to vie connected the satellite stage.

Director of LCFE, Sam Onukwue described the listing arsenic a almighty endorsement of Nigeria’s commodity marketplace and a bold connection astir the aboriginal of the nation’s commodity ecosystem.