Governor Babajide Sanwo-Olu of Lagos State has urged government at all levels, regulators, private organisations and developmental actors in relevant sectors to show more commitment, and work together in a more co-ordinated and integrated manner to achieve synergy that would drive inclusive economic agenda for the country.
The governor, who gave the charge at the roundtable on Nigerian commodities trading ecosystem at the weekend, said Nigeria’s over-dependence on oil would end by implementing ‘a-fit-for purpose’ commodity trading ecosystem, which hitherto was neglected.
Sanwo-Olu, represented by the Commissioner for Finance, Dr. Rabiu Olowo, while highlighting the inherent benefits of commodity trading ecosystem, said it engendered development and growth, promote employment generation, foster financial inclusion and attract foreign direct investment.
He noted that the stakeholders, big or small, have the capacity to transform the nation’s economic and social status, and that the current initiative on commodity trading ecosystem being expounded would provide the needed opportunities for them to play impactful roles and contribute significantly to the nation’s growth.
In the keynote address, Vice President Yemi Osinbajo, represented by Special Adviser on Economic Matters, Dr. Adeyemi Dipeolu, said that the Federal Government attached importance to commodity trading ecosystem, as commodity trading contributes to national growth and development.
He stated that Nigeria is endowed with abundant natural resources and has great comparative advantage in agriculture.
“For inclusive economic agenda that would bring all actors in the commodity trading ecosystem value chain together, agriculture would continue to play pivotal roles. This was articulated in the Federal Government Economic Development and Growth Plan,” he said.
He pointed out the crucial role agriculture played in the national efforts to recover from recession, saying that agriculture would continue to create jobs, generate employment, increase food security and provide the needed raw materials for agro-allied industries.
In her welcome address, Acting Director-General, Security and Exchange Commission (SEC), Mary Uduk, said SEC “is collaborating with all relevant stakeholders to make the commission one of the world’s deepest, most liquid and largest security commission in Africa by 2035.”
She said that one of the master plans was to deepen commodity-trading ecosystem.