By: Amb. Anthony Akalugo
SEN. IZUNASO LEADS SENATORS TO RETREAT ON CAPITAL MARKET AND FUTURE EXCHANGE, SEEKS FOR GREATER PARTICIPATION OF NON-FOOD PRODUCTS IN COMMODITY EXCHANGE
Quality of deliverables defines the output of a well trained and brilliant public servant and underscores the difference between a learned and intellectually sagacious fellow and others.
Sen. Osita Izunaso has proved that his election to the 10th session of Senate of the Federal Republic of Nigeria and his subsequent appointment as the chairman Senate Committee on Capital Market is a bright decision that holds the potentials to unlock enormous Economic potentials for the country.
A few months ago, the distinguished Senator led other senators to attend SEC organised retreat and critical issues of national interest and pragmatic steps towards unlocking the Securities and Exchange sector were discussed with framework of implementation drawn. The retreat is now followed with another retreat, this time, as the Senate capital market Committee collaborates with Lagos Commodities and future exchange to organise a retreat.
Presenting his keynote address at the event, the chairman Senate Committee on Capital Market, Izunaso highlighted the reasons to promote commodities exchange in the country. He emphasized that various developed and emerging economies across the globe, such as UAE, Saudi Arabia, etc. are now resorting to commodities exchange both for food produce, solid minerals and oil and gas, positing that such helps to improve the income stream of the nation in area of internally generated revenue.
Sen. Izunaso argued that Nigeria, through the commodities exchange will be able to upgrade to the level of processing and value addition to ensure that finished products are the Commodities for export instead of exporting raw materials and importing finished products.
According to the learned Lawmaker, processing of our export Commodities will increase revenue receipt, provide employment, support the local manufacturing ecosystem, improve the country’s earnings and reduce resource flight. He insisted that through effective interaction of critical stakeholders and informed analysis of the operating modalities, there will be a blueprint of action that will enhance Commodities trade.
Izunaso commended the Lagos Commodities and Future Exchange for deeming it necessary to approach the Senate for collaboration to float the retreat adding that a technical session of the retreat will in due course be organised to work out implementation framework for the resolutions made at the retreat to effect measurable implementation and progress.
Senators and other dignitaries who attended the retreat includes Sen. Osita Izunaso, Chairman Senate Committee on Capital Market, Sen. Peter Jiya, Vice Chairman, Senate Committee on Capital Market, Sen. Abba Moro, Sen. Minority Leader, Sen. Enyinnaya Abaribe, Fmr. Senate Minority Leader, Sen. Issa Jubril, Sen. Emmanuel Undemple, Sen. Sunday Marshal Atohu, Sen. Benson Friday Kombowei, Sen. Tony Nwoye, Sen. Mustapha, Sen. Tony Yaro, and others are: Sen. Abdulahi Savi, Honourable Minister for Agriculture and Food Security, Mr Agama, DG Designate of SEC, Mr Akim, MD Lagos Commodities and Future Exchange, Mr Akim Akeredolu Alex,
Assistant Comptroller General of Customs, representative of NPA, NIMASA, and Prof. Uwalaka and Dr Esu, and others.
Sen. Osita Izunaso is truly passionate about reinventing the wheel of progress for the nation through capital market and effective legislative commitment.
© Amb. Anthony Akalugo
Kpakpando Titanic Media, 2024
