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NCP Mulls BOA-NIRSAL Merger, Injection Of Fresh Capital

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NCP Mulls BOA-NIRSAL Merger, Injection Of Fresh Capital

*We must reposition BOA to drive Nigeria’s food security- VP Shettima

By: Our Reporter

The National Council on Privatisation (NCP) has received key recommendations from its committee on the Bank of Agriculture (BOA), including a proposed merger with the Central Bank of Nigeria’s NIRSAL Microfinance Ltd and a fresh capital injection to revitalize the bank.

Addressing the second NCP meeting of 2024 at the Presidential Villa on Wednesday, the Vice President, Senator Kashim Shettima reiterated President Bola Ahmed Tinubu’s commitment to repositioning and reforming BOA to drive the administration’s food security agenda.

“Let’s get very sound professionals with integrity to manage the bank. If we use it well, it’s going to be a tool for the transformation of our economy because agriculture is the key,” the Vice President said.

Presenting the committee’s report, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, who doubles as NCP Vice-Chairman, said the Council’s decision was informed by the challenges identified and the need for urgent resolution of the issues confronting the Bank.

Edun outlined the major recommendations, including “the immediate reconstitution of the Board of Directors of the Bank to enhance corporate governance” and “a merger of BOA with the CBN’s NIRSAL Microfinance Ltd.”

He also highlighted the proposal to “cede National Agricultural Land Development Authority (NALDA) land titles to BOA so that it reflects in its Balance Sheet, thus increasing its capital adequacy for the purpose of raising funds from institutional investors.”

Acknowledging the need for financial reinforcement, the Minister identified “adequate capital injection into the Bank by the shareholders” as a crucial step forward.

The committee’s report comes after the NCP empanelled an 8-member inter-ministerial body in December 2023 to review the state of affairs at BOA, given agriculture’s critical role in the economy and the Tinubu administration’s commitment to food security under the Renewed Hope Agenda.

In 2016, the NCP had approved the collaboration between the Bureau of Public Enterprises (BPE), the then Federal Ministry of Agriculture and Rural Development, and the Federal Ministry of Finance to restructure and recapitalize BOA.

A consultant, Lead Capital Consortium, was engaged in 2019 to review the bank’s operations and advise on strategies for rebirth and growth. The consultant’s core recommendation was for the government to recapitalize the bank, implement reforms, provide technical assistance, and transform BOA into a sustainable agricultural development bank.

Edun further outlined additional recommendations, including “Provision and upgrade of the Bank’s ICT infrastructure to automate processes, reduce costs and enhance the Bank’s outreach to the grassroots” and “Enhance governance and risk management by appointing qualified Board members and senior management with relevant expertise.”

In a move to bring transparency and efficiency to the nation’s energy sector, the NCP also noted the proposal seeking approval for the establishment of an independent system operator from the Transmission Company of Nigeria (TCN).

NCP Chairman, Vice President Shettima, set up a committee to liaise with the Special Adviser to the President on Energy and the Federal Ministry of Power to provide a roadmap and reach out to stakeholders.

The committee is chaired by Mr. Oye Hassan-Odukale, Technical Committee Chairman of NCP.

On a Strategy Paper for the Optimisation of Oil and Gas Assets, the Council also formed a committee to look into issues concerning oil and gas infrastructure, stressing the strategic importance of investors in the sector.

The committee chaired by the Minister for Budget and Economic Planning includes the Coordinating Minister of Health and Social Welfare, the NCP Secretariat, the Ministers of Power, the Minister of State for Petroleum Resources (Oil) and the Minister of State for Petroleum Resources (Gas),

The committee was given three weeks to come up with its report on optimizing the nation’s oil and gas assets.
End

NCP Mulls BOA-NIRSAL Merger, Injection Of Fresh Capital

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Atiku urges action to tackle out-of-school children in Nigeria

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Atiku urges action to tackle out-of-school children in Nigeria

Alhaji Atiku Abubakar Former Vice President of Nigeria has urged everyone to focus attention on the state of the nation’s education to secure a better future for young people in the country.

Atiku who is the founder, American University of Nigeria, AUN made the call at commemoration of the 17th Annual Founders day 2025 in Yola.

He said “Our beloved country, poised with a youth population that boasts enormous promise, faces staggering challenges that threaten to undermine our most precious asset, our children.

“Currently, millions of children remain out of school, and among those who do enrol, many find themselves disillusioned, trapped in an outdated paradigm that fails to prepare them for the demands of an increasingly complex and competitive world.”

According to him, the classroom experience, already compromised, muddied by overcrowded facilities, lack of resources, and educators who are under-supported.

He added that this dire educational reality is not just an unfortunate circumstance; it poses a profound threat not only on the lives of the youths, but also on the society

“The statistics are sobering; Nigeria holds the regrettable title of having the largest population of out-of-school children in the world.

“How is it that in a country rich in resources, cultural heritage knowledge and a myriad of talents, we find ourselves with such a dismal record?

“Every unattended classroom symbolizes a child with unfulfilled potential, a dream put on hold, and a talent that will remain dormant”, he said.

Atiku further said that If we do not act now to revitalize the educational system, “we doom an entire generation to lives devoid of opportunity, creativity, and the freedom to dream”.

In his address, Prof DeWayne Frazier, President of AUN said, over the years, the institutions has grown from its humble beginnings into a dynamic community that embodies the values of excellence, integrity, and service.

He said, they have educated leaders who are shaping industries, driving change, and transforming communities, not only in Nigeria but across the globe.

“Our mission has always been clear: to provide a world-class education rooted in critical thinking, innovation, and a commitment to sustainable development.

“Today, as we celebrate our continued journey fulfilling that mission, we take pride in the milestones we have achieved: innovative program, pioneering research and community impact”, he said.

According to him, beyond the achievements, what truly sets them apart is their community.

“AUN is not just a university; it is a family. A family bound by shared values, mutual respect, and a commitment to making a difference”, he said.

Atiku urges action to tackle out-of-school children in Nigeria

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Two policemen killed, three missing as Bandits ambush tactical team in Bauchi

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Two policemen killed, three missing as Bandits ambush tactical team in Bauchi

By: Zagazola Makama

Two police personnel have been killed, three declared missing and two others injured after suspected Fulani herdsmen ambushed a police tactical team in Sabon Sara village, Darazo Local Government Area of Bauchi State.

Sources told Zagazola Makama that the attack occurred on Nov. 22 at about 12:48 p.m. when the operatives were on an intelligence-led patrol in the area, which has recorded persistent farmer-herder conflicts.

The tactical team, drawn from Mobile Police Squadron 10 (Mopol 10), the Anti-Kidnapping Unit, and the State Intelligence Department (SID), was ambushed by yet-to-be-identified herders who opened fire on them.

“DSP Ahmad Muhammad of SID and Inspector Amarhel Yunusa of Mopol 10 were confirmed dead at the scene,” the source said.

The sources added that ASP Mustapha Muhammad and Inspector Idris Ahmed, both of Mopol 10, as well as Corporal Isah Muazu of the Anti-Kidnapping Unit, were declared missing after the attack.

According to the sources, Inspector Isah Musa and Inspector Yusuf Gambo, both of the State Intelligence Department, sustained injuries and were evacuated to the General Hospital, Darazo for treatment.

The sources said that the Commissioner of Police has ordered the deployment of additional tactical units to reinforce the Darazo Division and intensify efforts to trace the missing personnel and apprehend the attackers.

Two policemen killed, three missing as Bandits ambush tactical team in Bauchi

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Police storms bandits enclave after bandits attack, rescue 25 abducted women in Zamfara

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Police storms bandits enclave after bandits attack, rescue 25 abducted women in Zamfara

By: Zagazola Makama

The Zamfara Police Command has rescued 25 abducted persons, including 10 women and 15 children, following a coordinated response to a bandit attack on Kuraje village in Damba area of Gusau Local Government Area.

A source told Zagazola Makama on Sunday that the incident occurred on Nov. 21 at about 9:45 p.m., when armed bandits in large numbers invaded the community, shooting sporadically before abducting the victims.

According to the source, the Divisional Police Officer (DPO) of Damba Division, working alongside operatives from the Department of Operations Gusau and Community Protection Guards (CPG), immediately mobilised to the scene after receiving the distress report.

“The joint police teams engaged the bandits in a gun battle and successfully rescued all the abducted women and children,” the source said.

He added that the rescued victims were taken to Sabongari Damba for safety and were expected to be reunited with their families on Sunday morning.

The police assured that efforts were ongoing to track fleeing bandits and enhance security around vulnerable communities in the area.

Further developments are expected as operations continue.

Police storms bandits enclave after bandits attack, rescue 25 abducted women in Zamfara

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