LCFE Seeks Transparent Petroleum Pricing Through Commodities Exchange

The Lagos Commodities and Futures Exchange (LCFE) is positioning organised commodities trading as a strategic instrument for promoting transparent petroleum pricing, strengthening competition and improving investment decisions in Nigeria’s evolving downstream petroleum market.
This follows its recent licence from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to facilitate the trading and clearing of petroleum liquids, a move the Exchange says will connect the physical petroleum market with the capital market through a structured, technology-enabled platform.
In a statement on Friday, the managing director/CEO of LCFE, Akin Akeredolu-Ale, said the initia...