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From Scholastica Hir, Makurdi
The Nigerian Commodity Exchange (NCX) has officially commenced operations in Benue State after inaugurating an office at the Benue Investment and Property Company Limited (BIPC), in Makurdi, the capital of the state.
The office marks a significant step toward strengthening Agro commodities trading and value chains in the state.
The BIPC and NCX had on November 7, 2025, signed a partnership agreement aimed at addressing post-harvest challenges and improving farmers’ access to markets.
Speaking at the commissioning, BIPC’s Group Managing Director, Dr Raymond Asemakaha, said the initiative will play a pivotal role in regulating and overseeing trade commodities in Benue state as key step towards boosting the state economy, creating jobs and improving the lives of people.
He said it will also deepen agribusiness investments in line with the vision of Governor Hyacinth Alia.
The GMD commended the Managing Director of NCX, Dr Anthony Atuche, for successfully implementing the partnership between both organizations.
Asemakaha noted that the NCX will introduce a Warehouse Receipt System in the state were farmers will be able to store their produce in certified warehouses and receive receipts that serve as proof of ownership and access to credit for farmers and traders.
According to the GMD, the warehouse receipt system will reduce risk of commodity price fluctuation, Improve transparency and accountability in commodity trading, and enhance market efficiency and price discovery.
“This receipts can be used as collateral to access cash from NCX/BIPC Office because the solution is allowing Benue farmers to avoid selling their produce at low prices immediately after harvest.” the GMD explained.
Commissioning the office, NCX Director of Operations, Dr Khadijah Abdulaziz, expressed appreciation to BIPC noting that the partnership would significantly boost the agricultural value chain in Benue State.
Abdulaziz stated that Benue is endowed with some of the best agricultural produce in the country, making it a strategic hub for commodity trading and processing.She therefore described the Benue pilot scheme as a critical step toward delivering tangible benefits to farmers, assuring that the collaboration would be sustained to ensure maximum impact.
Our correspondent reports that the delegation had earlier visited farming communities in Wannune, Tarka Local Government Area, and Ikpayongo in Gwer East LGA, where they engaged directly with farmers on creating a more efficient market system that connects buyers and sellers.
The commencement of NCX operations in Benue is expected to boost agricultural productivity, enhance market access, and improve income for farmers across the state.
