Home News ‘Commodities exchanges should serve as key catalyst for development of critical sectors’ – Gawuna

‘Commodities exchanges should serve as key catalyst for development of critical sectors’ – Gawuna

by Isiyaku Ahmed
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Usman Garba

Following the need to diversify and grow the economy of the country for sustainable development, the Deputy Governor of Kano State, Dr.Nasiru Yusuf Gawuna has observed that the commodities exchanges can serve as key catalyst for development of critical sectors ,because it offers credible platform for trading and facilitating export of commodities.

“To achieve this our commodities must conform with internationally accepted standard,” he added.

Gawuna’s spokesperson, Hassan Musa Fagge in a statement on Thursday said he made the remark while declaring open a stakeholders’ sensitization workshop on commodity standards organized by the Securities and Exchange Commission (SEC) in collaboration with the Standards Organization of Nigeria (SON) at Grand Central Hotel, Kano.

The Deputy Governor said: Kano through Agro-Processing, Productivity Enhancement and Livelihood Improvement Support Project (APPEALS) is seeking to enhance agricultural productivity of small and medium scale farmers as well as improved value addition along three priority value chains of rice, wheat and tomato.

“This objective will be achieved through support for increased productivity of farmers and their linkage to markets…in this regard the commodity exchanges can play a critical role by ensuring commodities price stability and providing market access to farmers”.

He further said the workshop as part of the national standard development process is relevant and timely, therefore…I congratulate the Securities and Exchange Commission and the SON for partnering to organize the workshop.

According to the statement, the workshop is a signal that with strong collaboration among institutions, regulators and stakeholders, Nigeria can exceed its target sooner than expected.

Gawuna assured of continued support and cooperation to both agencies so as to enhance the standards of the commodities.

In his remarks, the Director General of Standards Organization of Nigeria (SON), Farouk Salim noted that since Nigeria is ready to key into the global sustainable commodity market, his agency is also ready to partner in areas where its services are needed.

While imploring the traders and other stakeholders along the commodity value chain to ensure compliance to standard with evidence of certification, he reiterated that SON is committed to ensuring that the primary objective of the commodity exchange to offer fair pricing to the producers and genuine commodities to the consumers is achieved through quality production based on conformity to relevant national commodity standard.

Speaking earlier, the Director General, SEC, Lamido Yuguda said this is the second in the series of workshops organized to enhanced commodity standards and part of the result of their partnership with SON.

Others who spoke at the occasion include the representative of the Emir of Kano, Sarkin Shanun Kano Alh. Shehu Muhammad Dan Kadai.

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