Commodity market will boost GDP growth – Experts

Date:

A financial expert, Dr. Abubakar Muhammad, has expressed optimism that harnessing the potentials of the commodities ecosystem would be the way forward in the quest by Nigeria for sustainable economic renaissance.

According to him, despite Nigeria’s tepid economic growth which has plunged millions of people into the clutches of poverty, the nation’s anticipated average growth rate of 3.4 per cent from 2023 to 2025 was achievable with adequate investment in the commodity sector.

Muhammed who is the chairman of  Assetium Capital Management Limited, a commodity broker/dealer company, stated this at a press conference to unveil the firm in Abuja on Friday.

During the event, a Director in the Board of the company, Kelvin Ihongbe, said harnessing the potentials of the commodity market will ensure food security in line with the promise of president Bola Tinubu’s administration.

He said, “With commodity investment you can’t go wrong. If you also noticed, the president has also talked about food security and with commodity investment, you can be rest assured that there will be food security and that is why we want to use this business to provide food security, provide employment for youths in Nigeria and give everyone value for their money.

The Chief Executive of the firm, Kunle Awoluyi, said the organisation has set up a risk management committee to ensure that the management is properly advised on every investment and risk taken.

Muhammed said the organisation was committed to establishing a substantial footprint as a major player in the commodities sector, adding that ACML remained steadfast in its commitment to attracting investors seeking opportunities within the commodities space, facilitate their participation on licensed commodities exchanges and explore the vast potential of the export market.

Source: The Punch

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

Popular

Latest Updates

More like this
Related

W.African bloc lifts sanctions against Guinea, Mali

West Africa's regional bloc ECOWAS said Sunday it was...

FG eyes 1,268MW from new eight power plants

The Federal Government is expecting 1,268 megawatts of power...

45,000km longest subsea cable lands in Nigeria

To broaden Nigeria’s Internet ecosystem, Bayobab, a pan-African digital...

Banks sell $172m as CBN, EFCC battle currency speculators

Experts fault NAFEM intra-day rates, demand full...
bitcoin
Bitcoin (BTC) $ 56,963.26 4.80%
ethereum
Ethereum (ETH) $ 3,246.81 2.57%
tether
Tether (USDT) $ 1.00 0.27%
bnb
BNB (BNB) $ 395.16 1.04%
solana
Solana (SOL) $ 108.20 1.28%
xrp
XRP (XRP) $ 0.58589 6.51%
staked-ether
Lido Staked Ether (STETH) $ 3,245.76 2.67%
usd-coin
USDC (USDC) $ 0.999583 0.15%
cardano
Cardano (ADA) $ 0.625619 1.56%
avalanche-2
Avalanche (AVAX) $ 39.19 0.61%