The ECX Academy delivered a high-level technical and strategic study visit program to NIRSAL’s top management

The Ethiopia Commodity Exchange (ECX) and the Nigerian Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) signed a landmark Memorandum of Understanding (MoU) yesterday, May 7, 2026, establishing a formal framework for bilateral cooperation in agricultural financing and commodity trading.

The signing of a Memorandum of Understanding (MoU) between Ethiopia Commodity Exchange (ECX) and the Nigerian Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) establishes a comprehensive framework for collaboration in key strategic areas, including warehouse receipt financing system and an integration of quality assurance systems, commodity trading modernization, risk management mechanisms, digital market infrastructure in addition to technical knowledge exchange.

During the ceremony Mr. Mergia Bayissa, CEO of ECX stated that this MoU paves the way for upgrading commodity exchange systems and warehouse receipt Warehouse receipt finance services, creating transparent and efficient market size and liquidity for the two respective nations.

Representing the Nigerian delegation, Mr. Sa’ad Hamidu highlighted the broader economic implications of the collaboration, noting that the partnership facilitates the exchange of specialized expertise. He added that the framework opens significant new opportunities for market development and Bilateral trades.

The ECX Academy delivered a high-level technical and strategic study visit program from May 04 -07, 2026 to a senior delegation from Nigerian Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) Plc, marking a significant milestone in cross-border institutional collaboration.

The intensive study visits and Training, tailored for NIRSAL’s top management, focused on strengthening technical expertise, operational efficiency, and strategic alignment in commodity market systems. It also served as a platform to deepen cooperation between the two institutions and foster knowledge exchange across Africa’s agricultural finance and trading ecosystems.

Ethiopia Commodity Exchange serves as Ethiopia’s primary trading platform for agricultural commodities, while Nigeria Incentive-Based Risk Sharing System for Agricultural Lending is a Nigerian institution designed to de-risk agriculture and stimulate low-interest lending to the value Chain.

The newly signed MoU is expected to catalyze stronger institutional collaboration, foster innovation-driven agricultural financing solutions, and contribute to the development of competitive and interconnected commodity markets.