By Emmanuel Antswen
Benue Investment and Property Company Limited (BIPC) has signed a Memorandum of Understanding (MoU) with the Nigeria Commodity Exchange (NCX) to end post-harvest losses in the state.
The Group Managing Director (GMD) of BIPC, Dr Raymond Asemakaha, who signed the MoU on Friday in Makurdi, said the partnership would significantly reduce post-harvest losses and transform Benue’s agricultural economy.
Asemakaha said the agreement is the outcome of a 3-day roundtable engagement and inspection tour of BIPC-operated warehouses, agro-processing industries, and farms by NCX officials and the Benue chapter of the All Farmers Association of Nigeria (AFAN).
The GMD explained that under the partnership, both institutions would collaborate to establish a Benue State Commodity Aggregation and Trading Hub.
He said the hub would promote organised commodity markets, strengthen the warehouse receipt system, and facilitate capacity-building programmes that would improve farmers’ productivity, market access, and pricing transparency.
Asemakaha added that NCX would set up an office in Benue, list Benue products on the NCX trading platform, provide professional inventory and warehouse management, and oversee local and export trading of agricultural and solid mineral commodities.
The GMD said BIPC will organise farmers into cooperatives, secure cultivation land, provide extension support services, and ensure the availability of modern storage infrastructure across the state.
“This innovative approach will also help to reduce the risks associated with commodity price fluctuations, ensuring a more stable and predictable market.”
“This Memorandum of Understanding (MOU) signifies a shared commitment to leveraging the strengths of both organisations to drive growth, reduce post-harvest losses, and improve the livelihoods of our farmers.
“By combining NCX’s expertise in commodity exchange and BI’s knowledge of the local market, we aim to create a robust warehouse receipts system that benefits all stakeholders,” he said.
He commended Gov. Hyacinth Alia for his leadership and support, adding that the initiative aligns with the state’s vision of increasing productivity, boosting exports, and generating sustainable jobs.
On his part, Mr Anthony Atuche, Managing Director and Chief Executive Officer (MD/CEO) of the Nigeria Commodity Exchange (NCX), said they would honour the agreement.
Atuche said Benue was the anchor state in NCX’s North Central Commodity Pilot Program.
“We have seen firsthand that Benue is truly the food basket of the nation. This partnership will ensure farmers earn living incomes, gain national and international market visibility, and participate competitively in structured commodity trading,” he said.
Representatives of farmer groups, including AFAN State Secretary Prof. Godwin Timinun, Youth Leader Ahen Akawe, and Manasseh Torsue, welcomed the initiative and pledged farmers’ readiness to key into the programme. NAN
