Lagos Commodities and Futures Exchange launches a N23.4bn rice contract listing to drive investment, support local farmers, and strengthen Nigeria’s commodities market

Lagos Commodities and Futures Exchange is launching a N23.4bn rice contract listing to transform Nigeria’s agricultural trading landscape.

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This bold initiative marks a significant step toward structured commodities trading and enhanced food security.

The new Eko Rice Classic Spots Contracts listing follows a pre-launch meeting that gathered investors, regulators, and key players in the agricultural ecosystem.

The event underscored the importance of this listing as a benchmark for transparent and efficient commodities trading.

Lagos Commodities and Futures Exchange aims to reduce Nigeria’s heavy reliance on rice imports by creating a sustainable market framework.

This initiative is designed to boost local rice production, ensure fair price discovery, and increase revenue for farmers and processors.

The exchange’s Managing Director, Akin Akeredolu-Ale, described the project as a powerful model aligning agriculture with capital markets to generate wealth and position Nigeria as a global leader in structured trade.

In addition to benefiting farmers, the listing promises value for investors, brokers, and the wider economy by opening doors to Nigeria’s growing local commodity market.

The move is also set to restore confidence in the rice value chain and meet both domestic and international standards.

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This strategic rice contract launch highlights Lagos Commodities and Futures Exchange’s mission to deepen liquidity, enhance sustainability, and establish Nigeria as a hub for commodities trading excellence.