NEPC, AFEX Partner To Boost Agric Export

Africa Exchange Hold
ings Limited (AFEX), has promised to work with the Nigerian Export Promotion Council (NEPC) to improve and formalize export of agricultural commodities to Republic of Niger, Chad and others.
In a statement obtained by our correspondent at the Zonal office of NEPC in Port Harocurt recently, it stated that this would be done through its subsidiary, AFEX Commodities Exchange Limited (AFEX Nigeria), a privately owned commodities Exchange platform co-owned by Heirs Holdings Limited.
The fact was disclosed at a meeting between Ambassador Jendayi Frazer, managing partner of AFEX and the Chief Executive Officer of NEPC, Mr. Olusegun Awolowo in Abuja recently.
When fully operational, the arrangement will open up new markets for Nigerian farmers  and increase the income of over 100,000 smallholder farmers especially the ones domiciled in Northern Nigeria as well as stabilizing the present food security challenges in the sahel region.
Working with the West African Food Market (WAFM) – a DFID funded project, AFEX hopes to efficiently employ the Exchange to provide solutions to farmers’ challenge in aggregation, storage, financial inclusion and selling of their products thereby enhancing the output of small and medium scale farmers in agribusiness.
According to Frazer, “AFEX is all about the private sector working with government to bring value not only to stakeholder but by transforming and supporting society.
The investors are driven by a social and commercial vision and Nigeria is important because it produces 60 per cent of total grain in West Africa.
So AFEXis more about providing services to the region.
Mr Awolowo acknowledged the organization capacity and strong presence of AFEX in the sector an saw the evolving partnership with NEPC as one that will enhance economic contributions from the sector as well as douse the concerns on in formal trade especially with our neighbours.
He promised that NEPC would support AFEX’s vision to create a lasting institution that capitalizes on the country’s agricultural potential to achieve regional food security and support smallholder farmers to increase their income earning capacity.
This according to Awolowo would ultimately reduce the barriers to competitiveness of the Nigerian agricultural sector.