The Federal government and other relevant stakeholders must paid adequate attention to the Nigeria Commodity Exchange (NCX) if the country’s diversification efforts are to be successful, the President of the All Farmers Association of Nigeria, Arc. Kabir Ibrahim, has said.
Cross sections of grain farmers in the country also pleaded with the relevant federal government agricultural implementation agencies to actively involve the Exchange in the implementation stages.
Arc. Kabir Ibrahim, the country’s farmers’ leader in an interview with Daily Trust, noted that it was desirable to have a strong and veritable commodity exchange in order to incentivize the grain farmers to get the full potentials of their produce and therefore experience sustainable prosperity.
‘’In Africa, Ethiopian farmers are doing quite well because of a fully supported commodity exchange programme and Nigeria too stands to enhance the full potentials of grain farmers in a fully supported commodity exchange market,’’ he said.
According to him, an effective Exchange would guarantee ready and stable market for farmers, which would enable the small holder farmers get value for their produce.
‘’Small-holder farmers will thrive very well when they get good value for their produce. They will enjoy prosperity and therefore sustainably upscale their production to do even more to facilitate food sufficiency and the resultant desired food security,’’ he said.
Mr. Mathew Ajayi from Osun State told Daily Trust on phone that since the collapse of the Commodity Marketing Board, which usually regulates the prices of farm produce, farmers have been left on their own.
‘’This has been making farming unattractive to the youths because they cannot guarantee stable price and market for their produce,’’ he said.
He urged the FG to strengthen the Exchange to guarantee ready market for farmers.
Alhaji Nuhu Mallami is a grain farmer in Kabbi State. He identified absence of ready market and good prices for farm produce as the major problems militating farming in Nigeria, adding that if the NCX is empowered and given the necessary incentives, such problems would be addressed.
The CBN, Bank of Agriculture and other relevant stakeholders should work with the Exchange to ensure ready market and good prices for agricultural produce in Nigeria.