Nigeria Commodity Exchange: Lead Capital Consortium Emerges as Bidder for Advisory Services

Lead Capital Consortium has emerged the preferred bidder for Advisory services on the Nigeria Commodity Exchange (NCX) with a score of 83.1 percent having beaten PWC and United Capital Consortia which scored 61.4 percent and 58.3 percent to emerge second and third positions respectively.

At the close of  the opening of the financial and technical proposals submitted by prospective advisers for NCX  held by the Bureau of Public Enterprises (BPE) on Thursday, March 2, 2017, Lead Capital also submitted a financial bid of  Seventy-Six Million, Three Hundred and Four Thousand, Five Hundred Naira (N76,304,500) only to emerge the preferred bidder.

However, its emergence is subject to the approval of the National Council on Privatisation (NCP) Steering Committee  on the revitilisation of the NCX and the Chairman of the NCP, Professor Yemi Osinbajo (SAN).

Acting Director-General of the Bureau of Public Enterprises (BPE), Dr. Vincent Onome Akpotaire who was chairman of the occasion declared that the Federal Government’s desire to revamp the nation’s economy hinged on a well structured commodity exchange which is a catalyst for enhancing the effective and efficient marketing and distribution of agricultural and other  commodities.

He noted that an efficient commodity exchange would serve as a good platform for trading in produce, encourage warehouse receipts systems as a veritable source of cash flows to farmers and other market dealers, thus allowing for competitive and more profitable trade and exchange as opposed to the current status under which off-takers enjoy the larger chunk of market profitability.