The commission is expected to coordinate the rebuilding of the insurgency-ravaged north-east region.
While inaugurating the commission before the commencement of the federal executive council (FEC) meeting on Wednesday, Buhari said a take-off grant of N10 billion meant for the commission had already been captured in the 2019 budget.
Africa News24 reports that last month, the commission presented a budget of N55 billion to the senate, of which N10 billion was approved for humanitarian interventions.
Buhari had sent the list of nominees of the commission to the senate for confirmation last month.
Paul Tarfa, a retired army major-general, was confirmed as chairman, while Mohammed Alkali was confirmed as the managing director and chief executive officer of the commission.
The upper legislative chamber also confirmed nine members of the board of the commission.
The members are Musa Yashi, executive director humanitarian affairs; Mohammed Jawa, executive director, admin and finance; Omar Mohammed, executive director, operations; and David Kente, member representing north-east zone.
Others are Asmau Mohammed, member representing north-west zone; Benjamin Adanyi, member representing north-central zone; Olawale Oshun, member representing south-west zone; Theodore Ekechi, member representing south-east and Obasuke McDonald, member representing south-south zone.
The senate passed the bill for the establishment of the commission in October 2016 while Buhari assented to the bill a year later.