The Federal Government has inaugurated the newly reconstituted Governing Board of the Nigeria Commodity Exchange (NCX) as part of efforts to strengthen the country’s commodities market.

The development was confirmed by the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole.

The inauguration, which took place in Abuja on Wednesday, signals the commencement of a new leadership phase aimed at repositioning the Exchange for improved market performance.

Dr. Oduwole stated that the newly inaugurated board is expected to provide the strategic direction needed to fully operationalise the Exchange.

• “The Nigerian Commodity Exchange is a key catalyst for enhancing price discovery, improving market transparency, and driving the expansion of non-oil exports.”
• “The new board will provide the strategic oversight required to fully operationalize the Exchange, strengthen accountability, and attract vital investment.”

The Federal Government noted that the move will help position Nigeria more competitively within regional and global value chains, emphasizing that the board’s role will be critical in unlocking the full potential of Nigeria’s commodity trading ecosystem.

The inauguration follows the earlier appointment of a new board by President Bola Tinubu.

• Dalhatu Abubakar was appointed as Chairman of the Exchange.
• Anthony Atuche was named Managing Director.
• Other board members include Najah Muhammed, Bamidele Hussein, Mezuo Nwuneli, Obi Igwe, and Foluso Ayo-Olaiya as non-executive directors.

The reconstitution aligns with efforts to expand Nigeria’s non-oil export base.

The move is part of broader reforms aimed at strengthening institutional frameworks within the commodities sector.