The Federal Government has inaugurated a new governing board for the Nigeria Commodity Exchange (NCX) to strengthen structured commodity trading and support Nigeria’s shift to a non-oil, export-driven economy.
The ceremony took place on Thursday, April 9, 2026, in Abuja, with the Minister of Industry, Trade and Investment, Jumoke Oduwole, describing it as a key step to modernize commodity markets.
Oduwole said the exchange will enhance transparency, standardize transactions, improve price discovery and unlock value in agriculture and solid minerals, supporting economic diversification, job creation and food security.
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She noted Nigeria could expand exports under the African Continental Free Trade Area but must address traceability gaps, informal trade and infrastructure challenges.
She added that a revitalized NCX will attract investment, boost market confidence and help Nigerian commodities meet global standards.
Permanent Secretary Chris Isokpunwu, represented by Obasi Edozie, said the inauguration strengthens Nigeria’s commodity export framework and urged the board to deliver on its mandate.
Board chairman Dalhatu Abubakar thanked President Bola Tinubu and the minister, pledging to reposition the exchange with improved governance, upgraded warehouses, digital trading systems and stronger partnerships to boost exports, support rural livelihoods and drive sustainable growth.