A comparative Review of the major options for the Marketing of Nigeria's Agricultural Commodities
The main aim of the paper is to critically review past commodity marketing systems in Nigeria, highlight some of the weaknesses which constrained their efficiency, as well as assess the performance of the present system and determine the advisability of retaining or modifying the present marketing arrangement. The performance of the Commodity Boards before their abolition in 1986 was adjudged unsatisfactory. However, since the abolition of the Boards, it has been observed that the new produce marketing arrangement has introduced some dynamism into commodity pricing as produce prices for the first time have been determined by the combined forces of demand and supply. Some problems inherent in the new system were identified to include its inability to ensure overall stability of commodity prices, guarantee the quality of produce and effectively perform the role of “buyer of last resort” among others. In a bid to plug these loopholes, various new options for marketing the Nigerian agricultural produce were examined and the viable solution to many of the identified marketing problems found to be the commodity exchange.
Ojo, M. O.; Inang, E. E.; and Ukeje, E. U., "A comparative Review of the Major Options for the Marketing of Nigeria's Agricultural Commodities" (1995). CBN Occasional Papers. 20.