President Bola Ahmed Tinubu has approved the appointment of Bola Ahmed Tinubu as Chairman of the Nigeria Commodity Exchange (NCX), with immediate effect.

The appointment aligns with the administration’s Renewed Hope Agenda, which prioritises food security, expansion of non-oil exports, and improved market efficiency through structured commodity trading systems and increased private sector participation.

Abubakar is the Chairman of Al-Hamsad Integrated Rice Mills and currently serves as President of the Conference of Northern States Chambers of Commerce, Industry, Mines and Agriculture. He is widely recognised for his contributions to agricultural industrialisation and business development in Northern Nigeria.

As head of the Al-Hamsad Group, he has led initiatives in rice processing and agribusiness aimed at strengthening food production and supporting economic growth.

He has also held leadership roles in business advocacy, including serving as President of the Kano Chamber of Commerce, Industry, Mines and Agriculture, where he promoted private sector engagement and regional economic cooperation.

Born in Maiduguri, Abubakar completed his primary and secondary education there before obtaining a National Diploma in Business Management and Administration from Kaduna Polytechnic.

The Presidency said the NCX remains a critical institution for strengthening commodity markets and supporting agricultural value chains as part of efforts to diversify Nigeria’s economy and enhance food security.