President Bola Ahmed Tinubu has approved the appointment of Dalhatu Abubakar as chairman of the Nigeria Commodity Exchange, alongside the inauguration of a new governing board to reposition the agency.
Gatekeepers News reports that the decision, announced by the presidency on Thursday, is part of efforts to strengthen Nigeria’s commodity trading system and expand non-oil exports.
According to the presidency, the move is aimed at improving transparency, enhancing price discovery, and boosting efficiency in the commodities market.
“The appointments are part of ongoing efforts to strengthen Nigeria’s commodity trading ecosystem, enhance price discovery, improve market transparency, and drive the expansion of non-oil exports,” the statement said.
The newly constituted board includes Najah Muhammed, Bamidele Hussein, Mezuo Nwuneli, Obi Igwe, and Foluso Ayo-Olaiya as non-executive directors, while Anthony Atuche was named managing director of the exchange.
The presidency said the restructured board is expected to provide strategic oversight needed to fully operationalise the exchange and attract investment into key areas such as warehousing, logistics, and trade infrastructure.
The Nigeria Commodity Exchange serves as a platform for trading agricultural and extractive commodities, with a focus on improving market access and ensuring fair pricing for producers and investors.
Officials noted that strengthening the exchange is central to the government’s broader economic agenda of improving food security, formalising commodity trade, and positioning Nigeria competitively in regional and global markets.
Abubakar, a businessman from Kano State, is expected to bring private sector experience into the role, with a focus on driving reforms and boosting efficiency within the commodities market.
