Nigerian Commodity Market to Generate 40m Jobs

Dike Onwuamaeze

The Founder and Chief Executive Officer of the JODOR Asset Management Limited, Mr. Nduka G. Ofulue, has declared that an upcoming Global Commodity Conference (GCC2020), would create opportunities for the generation of 40 million jobs for Nigerian youths.

Ofulue said that the conference would engender candid conversations that would generate ideas for unlocking the economic potential of Nigeria’s commodity markets and other sectors of the economy.

He said that the conference, which would be held between September 20 and September 21, 2021, with the theme “Inflation, the New Pandemic: Price Stability and Monetary Challenges in a COVID-19 Business Environment,’’ would be focused on opening market opportunities for the creation of jobs.

Ofulue said: “A MULTI-STRAT commodity ecosystem consisting of all aggregate sub-parts of the system will generate 20 to 40 million jobs for all parties engaged in the ecosystem.

“We cannot continue to do things the way we have done in the last years and expect different results.

“The Nigerian economy has done fairly okay, but it can do much better. The national currency (Naira) lost in excess of 200 per cent of its value in the past few years.

“At the same time price of commodity products have adjusted in excess of 100-300 per cent. The COVID-19 may have exposed our weaknesses but we can still turn the Nigerian economy around.’’

He said that the emergence of the GCC2020 conference would enable business executives to rethink their operations and refocus them on value creation and sustainability.

He added that the summit would feature speakers from academia, government’s ministries, departments, and agencies as well as participants from the private sectors.

Ofulue advised the government to embark on policy reforms that would introduce new strategies and enable the Naira to find its footing.

He also called on the federal government to increase its support to Nigerian young farmers, business exporters, and technology entrepreneurs in order to enable them to develop scalable systems that would boost their productivity and make their exports attractive in international markets.