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NCP Mulls BOA-NIRSAL Merger, Injection Of Fresh Capital
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
News
One killed, three injured as gunmen attack Plateau community in reprisal over livestock incident
One killed, three injured as gunmen attack Plateau community in reprisal over livestock incident
By: Zagazola Makama
Gunmen suspected to be Fulani bandits have killed one person and injured three others in an attack on Shonong community in Bachi District, Riyom Local Government Area of Plateau State, in a sustained reprisal attack linked to an earlier livestock-related incident.
Security sources said the attack occurred at about 8:40 p.m. on April 19 when the armed men invaded the community and opened fire on residents.
The sources said the assault was believed to be in retaliation over the killing of nine livestock in the area, an incident that had heightened tensions between farming and herding communities in the locality.
Troops of Operation Enduring Peace (OPEP) deployed in the area reportedly came under fire while responding to the attack and engaged the assailants in a gun duel, forcing them to withdraw after a heavy exchange of fire.
Reinforcement teams were later deployed and moved into the community to stabilise the situation and restore order.
According to the sources, the attackers killed a woman identified as Mrs Fibi Solomon, while three others — Mr Solomon, Master Jacob Solomon and Miss Jacobeth Solomon — sustained gunshot wounds.
The injured victims were evacuated to the General Hospital in Riyom for treatment, alongside the remains of the deceased.
Troops also rescued 12 civilians comprising three men, six women and three children, who were relocated to nearby Fang village for safety.
Security sources added that troops had intensified pursuit operations to track down the fleeing attackers, while the general area remained calm but tense.
One killed, three injured as gunmen attack Plateau community in reprisal over livestock incident
Yobe: Baba Malam Wali paid condolences to Senator Mustapha
By: Yahqya Wakili
The immediate past secretary to the Yobe State Government, Alhaji Baba Malam Wali mni, today paid a condolence visit to Senator Musa Mustapha, senator representing Yobe East in the National Assembly, following the death of his mother-in-law, the late Hajiya Fatima Mustapha Jibrin.
This was contained in a statement issued and signed by his press secretary, Alhaji Shuaibu Abdullahi, made available to newsmen in Damaturu, the state capital.
During the visit, the former secretary to the state government, Baba Malam Wali mni, offered prayers for the peaceful repose of the deceased’s soul.
He urged the bereaved family to bear the irreparable loss with fortitude, noting that death is inevitable and a path that every mortal must take.
Hajiya Fatima Mustapha Jibrin passed away yesterday, Thursday, 16th April 2026, in Damaturu, the Yobe state capital. She was buried the same day in accordance with Islamic injunction.
Baba Malam Wali further prayed to Almighty Allah SWT to forgive the shortcomings of the late Hajiya Fatima, have mercy on her, and grant her Al-Jannatul Fiddausi as her final abode.
Yobe: Baba Malam Wali paid condolences to Senator Mustapha
Troops Foil ISWAP Attack Attempt in Guzamala
By: Zagazola Makama
Troops of Sector 3 Area of Responsibility have foiled an attempted attack by suspected ISWAP/JAS terrorists on Forward Operating Base (FOB) Mairari in Guzamala Local Government Area of Borno State.
Sources said the incident occurred at about 1329hrs on April 19, when the terrorists attempted to infiltrate the base through Charlie/Delta Company axis.
The attackers, operating with two gun trucks, were sighted advancing toward the entrance gate of Mairari town along the Gajiram axis.
Troops immediately engaged the advancing terrorists, forcing them to abandon their mission and retreat.
Following the encounter, troops dominated the general area with patrols, while air support was also deployed and hovered over the vicinity. However, no further terrorist presence was observed after the exchange.
Security sources said exploitation and clearance operations are ongoing to prevent regrouping and to secure surrounding communities.
Troops Foil ISWAP Attack Attempt in Guzamala
Angry youths, women attack soldiers, burn military checkpoint in Plateau over killing of villager
One killed, three injured as gunmen attack Plateau community in reprisal over livestock incident
Troops destroy terrorist hideouts, arrest 9 suspected informants in Taraba
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