The Managing Director and Chief Executive Officer of LCFE, Akin Akeredolu-Ale
The Lagos Commodities and Futures Exchange has secured a licence from the Nigerian Midstream and Downstream Petroleum Regulatory Authority to facilitate the trading and clearing of petroleum liquids, in a development expected to deepen price discovery, transparency and investment in Nigeria’s energy market.
The approval provides LCFE with the regulatory foundation to establish a structured marketplace for petroleum liquids, linking the physical petroleum market with Nigeria’s capital market through regulated trading, clearing and settlement infrastructure.
The licence was unveiled in Abuja on Tuesday at a stakeholder event attended by senior representatives of the NMDPRA, Securities and Exchange Commission, S&P Global Ratings, Central Securities Clearing System, Alliance Law Firm, and other capital and energy market operators.
Already, no fewer than ten petroleum liquid traders have committed to participating in the exchange, providing an initial pool of market participants for the development of the new trading ecosystem.
