The Securities and Exchange Commission on Thursday published registered commodities exchange warehouse map, stating that warehouses and storage infrastructure are necessary for the commodity sector and commodities futures trading.
According to the commission, the storage facilities are critical to the entire agro commodities value chain for the reduction in post-harvest losses, quality maintenance, year-round supply of commodity raw materials to end-users are an important building block for transparent transactions in commodity contracts.
“Warehousing forms the basic platform of delivery based trading in commodity futures, these warehouses (see map below) are linked to commodity exchanges registered by SEC Nigeria and are open to farmers and owners of commodities who intend to trade their commodities on the exchange,” it said.
Nigeria’s only private commodities exchange, AFEX Commodities Exchange Limited, has its warehouses in eighteen states, namely; Kaduna, Kebbi, Sokoto, Zamfara, Katsina, Kano, Jigawa, Gombe, Plateau, Taraba, Benue, Oyo, Ondo, and Edo states.
Kaduna State has the highest number of warehouses, recording 11 in different locations of the state. This is followed by Benue State, which has five warehouses in different locations.
Nigerian Commodities Exchange (NCX), the second major commodities exchange in the country, promoting the trading of commodities alongside AFEX, also has warehouses in four states, namely -Ebonyi, Kogi, Zamfara and Bauchi.
The Securities and Exchange Commission, Nigeria is the apex regulatory institution of the Nigerian capital market. It is supervised by the Federal Ministry of Finance.
The commission has evolved over time having started with the establishment of the Capital Issues Committee in 1962 by the government as an essential arm of the Central Bank of Nigeria, information on its website reveals.
The commission collaborates with relevant stakeholders to introduce new products and processes.