The Federal Government has inaugurated the newly reconstituted governing board of the Nigeria Commodity Exchange as part of efforts to strengthen Nigeria’s commodities market and expand the country’s non-oil export base.
The inauguration ceremony, which took place in Abuja on Wednesday, marks the beginning of a new leadership phase aimed at repositioning the Exchange for improved performance and stronger market operations.
The development was confirmed by the Minister of Industry, Trade and Investment, Jumoke Oduwole, who said the new board would provide the strategic direction required 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 minister stated.
According to her, the newly inaugurated board will play a crucial role in strengthening accountability within the Exchange while attracting much-needed investment into Nigeria’s commodity trading ecosystem.
“The new board will provide the strategic oversight required to fully operationalize the Exchange, strengthen accountability, and attract vital investment,” Oduwole added.
The Federal Government noted that the move would help position Nigeria more competitively within regional and global value chains.
The reconstitution of the board follows earlier appointments approved by Bola Ahmed Tinubu.
Under the new structure, Dalhatu Abubakar will serve as Chairman of the Exchange, while Anthony Atuche has been appointed as Managing Director.
Other members of the board include Najah Muhammed, Bamidele Hussein, Mezuo Nwuneli, Obi Igwe, and Foluso Ayo-Olaiya as non-executive directors.
The Nigeria Commodity Exchange plays a key role in facilitating commodity trading across major sectors of the economy by providing a structured marketplace for agricultural commodities and extractive resources.
Through improved price discovery, transparency, and market access, the platform is designed to create a more reliable and efficient trading environment for producers, traders, and investors.
Industry stakeholders regard the Exchange as a critical institution for formalising commodity trade and improving overall market efficiency in Nigeria.
