African commodity market to attract $1trn investment- Expert

An asset management firm, JODOR Asset Management (J.A.M.), says it is anticipating more value driven investments to the tune of 1 trillion U.S. dollars in African commodity ecosystem in the next five years. Mr Nduka Ofulue, the Founder and Chief Executive Officer of J.A.M, made this known in a statement on Thursday in Abuja. Ofulue, a U. S. trained commodity Trading Manager, said that this would aid critical developments, sustainable jobs and stakeholders’ value in the country.

In view of achieving this set goal, he said J.A.M would hold its forthcoming Global Commodity Conference to spur value driven investments in Nigerian and African commodity ecosystem.

The News Agency of Nigeria (NAN) reports that the conference, which will hold in Abuja from March 29 to March 30 has its theme as: “Unlocking Value in African Commodity Markets”. Ofulue underscored the scope of the flagship summit in view of commodity sector developments within the U.S., China, Australia, Indonesia, Taiwan, Japan and Europe. He said the conference was apt due to recent Nigeria Commodity Exchange (NCX) repositioning by Federal Government and Central Bank of Nigeria (CBN). He also noted that by 2025, China is expected to surpass the U.S as the world’s biggest economy with other Asian countries following China’s lead.

According to him, J.A.M took the initiative to reschedule its GCC2020 Flagship summit to March 2021 as the summit will aid discussions among government agencies, think-tanks and various Chief Executive Officers.

He added that it would bring together private equity, investment and fund managers, policy experts, investors and other professionals to proffer solutions to macro-economic challenges. “The GCC2020 flagship conference will identify with the commodity trading market in a COVID-19 and post COVID-19 era. It will profess initiatives and projects to ensure the continued development in Africa commodity investment market,” Ofulue said. According to him, this in essence will create jobs and sustainable employment of about 25 to 35 million for regional economies and spur growth of Gross Domestic Products.