President Bola Ahmed Tinubu has approved the appointment of Dalhatu Abubakar as chairman of the Nigeria Commodity Exchange (NCX), alongside members of its governing board.What do you do?
The appointment, which takes immediate effect, is part of
efforts by the federal government to strengthen Nigeria’s commodity trading
ecosystem and drive non-oil export growth.
According to a statement on Thursday by the presidency, the
reconstitution of the NCX board is aligned with the administration’s renewed
hope agenda, which prioritises food security, market efficiency, and export
expansion.
“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.
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The newly approved board members include 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), and Anthony Atuche, who will serve as
managing director.
The presidency said the reconstituted board is expected to
provide the strategic oversight required to fully operationalise the exchange
and attract investment into key areas such as warehousing, logistics, and trade
infrastructure.
“The reconstitution of the NCX board will provide the
strategic oversight required to fully operationalise the exchange, strengthen
accountability, and attract investment into warehousing, logistics, and trade
infrastructure,” the statement added.
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The presidency said the NCX remains a key institutional
mechanism for achieving the administration’s food security and export
diversification goals through structured commodity markets and increased
private sector participation.
“Through structured commodity markets and increased private
sector participation, the NCX will play a critical role in formalising
commodity trade, improving traceability, stabilising markets, and positioning
Nigeria more competitively within regional and global value chains,” the
presidency said.
Abubakar, a businessman from Kano state, is chairman of
Al-Hamsad Integrated Rice Mills and president of the Conference of Northern
States Chambers of Commerce, Industry, Mines and Agriculture (CONSCCIMA).
The presidency also said the new chairman previously served
as president of the Kano Chamber of Commerce, Industry, Mines and Agriculture
(KACCIMA), and is widely recognised for his contributions to agribusiness
development and enterprise mentorship in northern Nigeria.
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