The Lagos Commodities and Futures Exchange (LCFE) has secured a licence from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to facilitate the trading and clearing of petroleum liquids. The approval, unveiled in Abuja at a stakeholder event, is expected to deepen price discovery, transparency and investment in Nigeria’s energy market by bringing petroleum trading into a regulated, structured marketplace. The licence provides LCFE with the regulatory foundation to link the physical petroleum market with Nigeria’s capital market through technology-enabled trading, clearing and settlement infrastructure. The managing director/chief executive officer, LCFE, Akin-Akeredolu-Ale said, the issuance of this licence marks a defining moment for Nigeria’s commodities market. Market watchers pointed out that the NMDPRA approval is a significant step in LCFE’s broader ambition to transform Nigeria’s commodities market and position the Exchange as a leading commodities trading platform in Africa.