TINUBU APPOINTS NEW NCX BOARD TO BOOST COMMODITY MARKET
TINUBU APPOINTS NEW NCX BOARD TO BOOST COMMODITY MARKET Dalhatu Abubakar named chairman as government targets non-oil export growth President Bola Ahmed Tinubu has approved the appointment of a new governing board for the Nigeria Commodity Exchange, naming agribusiness expert Dalhatu Abubakar as chairman. The appointments, which take immediate effect, are part of the administration’s broader economic reforms under the Renewed Hope Agenda, aimed at strengthening Nigeria’s commodity trading ecosystem and boosting non-oil exports.
- Dalhatu Abubakar – Chairman
- Anthony Atuche – Managing Director
- Najah Muhammed – Non-Executive Director
- Bamidele Hussein – Non-Executive Director
- Mezuo Nwuneli – Non-Executive Director
- Obi Igwe – Non-Executive Director
- Foluso Ayo-Olaiya – Non-Executive Director
The Federal Government said the reconstitution of the NCX board is designed to reposition the exchange as a key driver of economic diversification.
The presidency noted that the move will:
- Strengthen commodity trading systems
- Improve price discovery and transparency
- Enhance market efficiency
- Support the expansion of non-oil exports
Officials added that the new board is expected to attract investment into critical areas such as:
- Warehousing systems
- Logistics and supply chains
- Trade infrastructure
These improvements are seen as essential for reducing post harvest losses and stabilising commodity prices nationwide.
The Nigeria Commodity Exchange (NCX) serves as a structured marketplace for trading agricultural and extractive commodities, helping to connect producers with buyers while ensuring fair pricing.
A fully functional exchange is expected to:
- Formalise commodity trade
- Improve traceability of goods
- Position Nigeria competitively in global markets
The presidency emphasised that the appointments align with key priorities of the Tinubu administration, including:
- Food security
- Economic diversification
- Increased private sector participation
The government expressed confidence that the new board will provide the leadership needed to revitalise the exchange and unlock value across Nigeria’s agricultural sector. With the new leadership in place, attention will shift to how effectively the board can operationalise the exchange and deliver tangible improvements in Nigeria’s commodity market.
Analysts say sustained implementation and investment will be critical to achieving the intended impact.
