FG Launches New Board for Nigerian Commodity Exchange

The Federal Government of Nigeria inaugurated a newly reconstituted board for the Nigerian Commodity Exchange (NCX) on Wednesday in Abuja, as part of efforts to strengthen the country's commodity market. The inauguration was conducted by Dr. Jumoke Oduwole, the Minister of Industry, Trade, and Investment.

This move is intended to signal the commencement of a new leadership phase aimed at repositioning the exchange and improving its market performance. The newly inaugurated board is expected to provide strategic direction necessary for fully operationalizing the exchange.

The Federal Government noted that this initiative will help position Nigeria competitively within regional and global value chains. The board's role is critical in unlocking the full potential of Nigeria's commodity trade ecosystem.

This inauguration follows the earlier appointment of a new board by President Bola Tinubu, aligning with efforts to expand Nigeria's non-oil export base as part of broader reforms to strengthen the institutional framework within the commodity sector.