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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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KACRAN Applauds Buni’s Leadership, Cites Job Creation and Food Security Gains in Yobe

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KACRAN Applauds Buni’s Leadership, Cites Job Creation and Food Security Gains in Yobe

By: Michael Mike

The Kulen Allah Cattle Rearers Association of Nigeria (KACRAN) has commended Yobe State Governor, Mai Mala Buni, for what it described as visionary leadership that has significantly improved job creation, food security, and overall wellbeing of citizens in the state.

In a statement signed by its National President, Khalil Mohammed Bello, the association said the desire of any society is to have a leader who prioritizes the welfare, security, and long-term prosperity of the people, noting that Governor Buni embodies such qualities.

KACRAN praised the governor’s humility and accessibility, describing him as a leader who maintains close contact with citizens to better understand their needs and challenges. According to the association, this people-oriented approach has contributed to sustained peace and unity in Yobe State.

Highlighting key achievements, the group noted that Buni’s administration has consistently invested heavily in agriculture by procuring and distributing farm inputs to farmers at subsidized rates. This, it said, has boosted food production and strengthened food security not only in Yobe but across neighboring states.

The association also lauded the establishment of a dedicated Ministry of Livestock, which it said has reinforced Yobe’s position as a leading livestock hub in Nigeria. It added that the construction of modern markets across major towns has further enhanced commercial activities within the state.

On human capital development, KACRAN pointed to the award of scholarships to thousands of students for studies within and outside Nigeria, as well as the construction and rehabilitation of roads, bridges, and other infrastructure to improve connectivity between rural and urban areas.

The group further commended the governor for creating employment opportunities through recruitment into the civil service and various empowerment programmes targeting youths and women.

KACRAN also acknowledged the efforts of the Yobe State Emergency Management Agency (SEMA), led by Mohammed Goje, in providing relief materials to internally displaced persons and vulnerable populations affected by insurgency, floods, and other disasters.

It noted that during the ongoing Ramadan, the state government has intensified food distribution initiatives, ensuring that thousands of households receive daily support as part of broader measures to cushion economic hardship.

While stressing the importance of proactive governance, KACRAN urged other state governments and the Federal Capital Territory to emulate Yobe’s approach to investing in agriculture, human development, and security in order to avert potential food crises and improve living standards nationwide.

The association concluded that sustained commitment to these priorities would promote peace, unity, and long-term stability across the country.

KACRAN Applauds Buni’s Leadership, Cites Job Creation and Food Security Gains in Yobe

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CDS urges Borno, Yobe residents to take ownership of fight against terror, says enemy operating from within

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CDS urges Borno, Yobe residents to take ownership of fight against terror, says enemy operating from within

By: Zagazola Makama

The Chief of Defence Staff (CDS), Gen. Olufemi Oluyede, has raised fresh concerns over internal complicity in the protracted insurgency in the North-East, urging residents of Borno and Yobe to take ownership of the fight against terrorism.

Oluyede’s position, articulated after a high-level security meeting in Maiduguri, signals a strategic shift in emphasis from purely kinetic military operations to community-driven counterinsurgency, as Nigeria battles the enduring threat posed by Boko Haram and the Islamic State West Africa Province.

The meeting, which lasted about four hours, brought together top military commanders, including the Chief of Army Staff, Lt.-Gen. Waidi Shuaibu, the Theatre Commander of Operation Hadin Kai, Maj.-Gen. Abdulsalam Abubakar and other top military officials.

At the heart of the CDS’s message is a troubling reality: the insurgency is being sustained, in part, by individuals that sometimes embedded within affected communities.

According to Oluyede, intelligence reports indicate that many of those responsible for attacks over the past 15 years originate from the same communities bearing the brunt of the violence.

This assertion reinforces long-standing concerns within security circles that local knowledge terrain familiarity, social networks, and community cover has continued to provide operational advantages to insurgents.

He cited a recent example in Kukawa, where troops discovered wounded terrorists hiding within the community during post-attack clearance operations, pointing to the challenge of distinguishing between civilians and collaborators.

The dynamics complicate military efforts, as insurgents exploit familial and social ties to evade detection, making intelligence gathering more difficult despite sustained offensives.

The CDS’s call for residents to “take ownership” reflects a recognition that military القوة alone cannot decisively end the insurgency without active civilian cooperation.

Oluyede’s remarks suggest a push to recalibrate this dynamic by encouraging residents to see the fight as a collective responsibility rather than solely a government burden.

The CDS also acknowledged the evolving tactics of insurgents, particularly the increasing use of drones and other technological in attacks.

Oluyede disclosed that the Nigerian military is adapting, including the deployment of advanced drone systems to enhance surveillance, targeting, and battlefield coordination.

CDS urges Borno, Yobe residents to take ownership of fight against terror, says enemy operating from within

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FG Pushes for Correctional Reform via Public-Private Partnership

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Dr Magdalene Ajani, Permanent Secretary of Interior, (center), CG Nigerian Correctional Service (NCOS) Sylvester Nwakuche, Mni. (R) and Executive Director of Hope Behind Bars Africa, Funke Adeoye (L).

FG Pushes for Correctional Reform via Public-Private Partnership

By: Michael Mike

The Federal Government has reaffirmed its commitment to transforming Nigeria’s correctional system into a hub of rehabilitation, skills development, and national productivity through strategic Public-Private Partnerships (PPPs).

The pledge was highlighted at a stakeholders’ engagement on optimizing correctional farm centres, industries, and PPP opportunities, organized by the Ministry of Interior in collaboration with civil society and development partners.

Representing the Honourable Minister of Interior, Dr. Olubunmi Tunji-Ojo, Permanent Secretary Dr. Magdalene Ajani stated that modern correctional facilities must focus not only on confinement but also on equipping inmates with practical skills for reintegration into society. “Correctional centres must evolve into institutions of transformation—where inmates are prepared to become productive members of society upon release,” she said.

Ajani emphasized the importance of PPPs in achieving this vision, describing them as critical tools for combining government oversight with private sector expertise, innovation, and investment. She added that correctional farm centres and industries could become centres of excellence in agriculture, agro-processing, and value-chain development, contributing to both inmate rehabilitation and national food security.

The Controller-General of the Nigerian Correctional Service, Sylvester Nwakuche, disclosed that the Service currently operates 18 farm centres and 10 cottage industries nationwide, spanning crop production, livestock, fisheries, and poultry.

He noted that collaboration with the private sector would boost productivity, introduce modern techniques, and create sustainable value chains.

Stakeholders, including representatives from government, civil society, development organisations, and the private sector, agreed on the need for actionable and scalable models to drive tangible impact.

On his part, the Chairman of the House Committee on Reformatory Institutions Hon. Chinedu Ogah, called for greater accountability, innovation, and commitment in optimizing correctional farms, noting that agriculture remains a critical driver of economic growth and national security.

The engagement aligns with President Bola Ahmed Tinubu’s administration’s broader reform agenda, which prioritizes institutional strengthening, economic productivity, and sustainable development. Participants were urged to leverage partnerships that transform correctional facilities into engines of productivity, reduce recidivism, and enhance community safety.

The Ministry of Interior reiterated that the success of correctional reform depends on collective action, sustained investment, and a shared commitment to building a humane and development-oriented correctional system.

FG Pushes for Correctional Reform via Public-Private Partnership

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