Nigeria Targets $400bn Share of Africa’s Commodities Market Through UAE–LCFE Partnership

Nigeria has unveiled plans to position itself as a major gateway to Africa’s estimated $1 trillion commodities market, targeting at least $400 billion in opportunities through a strategic partnership between the Lagos Commodities and Futures Exchange (LCFE) and the United Arab Emirates.

The initiative was disclosed during a courtesy visit by the UAE Ambassador to Nigeria, Salem Al Jaberi, where LCFE Managing Director, Akin Akeredolu-Ale, outlined the scope of the collaboration spanning agriculture, energy, solid minerals, and industrial commodities.

Akeredolu-Ale said the partnership will support lithium processing, livestock development, food security initiatives, and enhanced commodities trading, while leveraging private-sector-led financing to improve efficiency, infrastructure delivery, and capital formation across the value chain.

He cited landmark projects such as the Second Niger Bridge and Sukuk-backed road infrastructure as evidence that structured private investments can deliver measurable economic outcomes when aligned with government priorities.

The LCFE is also expanding its ecosystem of commodity brokers and dealing firms, promoting gold trading through LBMA-standard bars stored in Free Trade Zones, and increasing participation in rice production, livestock, and export-ready organic produce, with the UAE granted first right of refusal on selected commodity exports.