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.
- +FG inaugurates Nigerian Commodity Exchange board to boost trade
The development was disclosed in a post on the Exchange’s official X handle and confirmed by the Minister of Industry, Trade and Investment, Dr.
The development was disclosed in a post on the Exchange’s official X handle and 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 said the newly inaugurated board is expected to provide the strategic direction needed to fully operationalise the Exchange.
The Federal Government noted that the move will help position Nigeria more competitively within regional and global value chains, noting 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.
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.
The Nigeria Commodity Exchange plays a central role in facilitating commodity trading across key sectors.
The NCX is widely regarded as a critical institution for formalising commodity trade and improving overall market efficiency in Nigeria.
