Nigeria and the United Arab Emirates (UAE) are exploring strategic collaboration to accelerate the development of Nigeria’s vast commodities ecosystem, with opportunities estimated at over $400 billion across key sectors.
The proposed partnership, involving the Lagos Commodities and Futures Exchange (LCFE), is focused on attracting private-sector investors and positioning Nigeria as a central gateway to Africa’s $1 trillion commodities market. Nigeria’s share of the opportunity spans agriculture, energy, gold, and lithium, according to industry estimates.
As part of ongoing engagement, the UAE Ambassador to Nigeria, Salem Saleh Omar Al Jaberi, paid a courtesy visit to the LCFE to advance discussions on priority areas for collaboration. Expected areas of cooperation include lithium processing, livestock development, food security initiatives, and commodities trading infrastructure.
Speaking during the visit, Managing Director of the Lagos Commodities and Futures Exchange, Akin Akeredolu-Ale, underscored the importance of private-sector-led initiatives in driving efficiency, capital formation, and infrastructure delivery. He cited projects such as the Second Niger Bridge and Sukuk-backed road networks as examples of how structured private investment can ensure project continuity and deliver measurable outcomes.
Akeredolu-Ale also disclosed that the Exchange is expanding its ecosystem of dealing member firms and commodity brokers, while deepening efforts to promote gold trading. He noted that gold traded on the Exchange is being standardized to London Bullion Market Association (LBMA) specifications and stored in Free Trade Zones, enabling tariff-free access for institutional investors, including pension funds.
Stakeholders say the Nigeria–UAE collaboration could play a critical role in strengthening value chains, boosting export earnings, and deepening Nigeria’s integration into global commodities markets.
