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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
Nigeria, China Seek Expanded Cooperation in Tourism, Heritage, Creative Industries
Nigeria, China Seek Expanded Cooperation in Tourism, Heritage, Creative Industries
By: Michael Mike
Nigeria and China have intensified efforts to strengthen bilateral cooperation in tourism, culture, and the creative economy, with both countries identifying the sectors as major drivers of economic growth, cultural diplomacy, and people-to-people relations.
This commitment was reaffirmed at the weekend during the 2026 China Tourism Day celebration hosted by the China Cultural Centre in Nigeria (CCIN) in Abuja, where government officials, diplomats, tourism stakeholders, artists, and cultural enthusiasts gathered to celebrate the growing partnership between the two nations.
Speaking at the event, Yang Jianxing said tourism remains one of the most effective instruments for fostering mutual understanding and strengthening ties among nations.
He explained that the theme of this year’s celebration, “Enjoying Quality Tourism, Exploring Beautiful Landscapes,” reflects the increasing global importance of tourism as a platform for intercultural dialogue and peaceful coexistence.
According to him, both China and Nigeria possess rich historical civilizations, diverse cultural identities, and globally recognised tourism assets capable of deepening cooperation between their peoples.
Yang cited iconic destinations including the Great Wall of China and Mount Tai, alongside Nigeria’s Osun-Osogbo Sacred Grove and Zuma Rock, describing them as enduring cultural symbols that continue to connect civilizations across continents.
He noted that several joint cultural initiatives organised over the years by both countries, including the Happy Chinese New Year programmes and China-Nigeria Cultural and Tourism Festivals, had expanded cultural exchanges through artistic performances, traditional exhibitions, and culinary experiences.
“These activities have not only strengthened friendship between our peoples but have also promoted the spirit of harmony, mutual respect, and cultural inclusiveness,” he said.
Yang further disclosed that China was prepared to deepen collaboration with Nigeria under the framework of the China-Africa Year of People-to-People Exchanges, with fresh opportunities expected in heritage preservation, tourism promotion, cultural innovation, and the creative industries.
He encouraged more Nigerians to explore educational and tourism opportunities in China while expressing optimism that more Chinese visitors would also discover Nigeria’s rich cultural heritage, artistic diversity, and tourism potential.
Also addressing participants, Abdulkarim Ibrahim described the event as another milestone in the long-standing diplomatic and cultural relationship between Nigeria and China, which he said has continued to flourish for more than five decades.
Nigeria, China Seek Expanded Cooperation in Tourism, Heritage, Creative Industries
News
Zulum Lauds Peaceful Conduct of APC House of Reps Primaries in Borno
Zulum Lauds Peaceful Conduct of APC House of Reps Primaries in Borno
By: Michael Mike
Governor of Borno State, Babagana Umara Zulum, has commended the peaceful and orderly conduct of the All Progressives Congress primary election for the House of Representatives across the state.
Zulum gave the commendation on Saturday shortly after supervising the APC primary election for the Gubio, Kaga and Magumeri Federal Constituency held in Magumeri town.
Hundreds of party supporters from the three local government areas gathered at the venue to welcome the governor and APC officials overseeing the exercise.

Speaking with journalists after the primary, Zulum said the process was conducted in line with the Electoral Act 2026 and the constitution of the APC, which allows aspirants to adopt consensus arrangements.
“We are here to witness the primary election in line with the Electoral Act 2026 and the APC constitution, which allows for consensus arrangements among aspirants,” the governor stated.
He explained that although three aspirants initially indicated interest in contesting for the party’s House of Representatives ticket, two later withdrew in support of the incumbent lawmaker, Hon. Usman Zannah.
“We have three contestants vying for the position of the House of Representatives, but fortunately, under the consensus arrangement as enshrined in the constitution of our party, the All Progressives Congress (APC), two of the aspirants stepped down for the incumbent member, Hon. Usman Zannah,” he said.
According to the governor, party members and stakeholders from the constituency affirmed their support for the consensus candidate during the exercise.
Zulum congratulated Hon. Zannah on his emergence and praised the aspirants who stepped down — Hon. Shettima Shehu and Alhaji Mohammed Sanda Ngamdu — describing their action as a demonstration of unity, sacrifice and political maturity.
“I want to extend my congratulations to the candidate and the others who stepped down for him,” he said. “I also want to express my appreciation to all APC supporters and the people of Borno State for ensuring a peaceful voting process.”

The governor stressed that the consensus arrangement adopted by the party was voluntary and not designed to deny any aspirant the opportunity to contest.
“Under the consensus arrangement, the government of Borno State and the party have never taken a decision to stop anybody from contesting,” he explained. “Consensus is a voluntary option, and anybody who does not wish to go for a consensus election has the right to participate in a direct primary.”
Chairman of the APC Primary Elections Committee for Gubio, Kaga and Magumeri Federal Constituency, Hon. Yuguda Saleh Vungas, also confirmed that party stakeholders agreed on consensus as the mode of primary election.
He commended Governor Zulum for creating an enabling environment for the smooth and peaceful conduct of the exercise.
Through a voice vote, APC members from the three local government areas unanimously affirmed Hon. Usman Zannah as the party’s consensus candidate for the House of Representatives seat.
Officials of the Independent National Electoral Commission and APC national headquarters monitored the exercise.
Governor Zulum was accompanied by the APC consensus gubernatorial candidate, Engr. Mustapha Gubio, Secretary to the State Government Bukar Tijani, and Acting Chief of Staff, Dr. Babagana Mustapha Mallumbe.
Zulum Lauds Peaceful Conduct of APC House of Reps Primaries in Borno
News
U.S., Nigerian Forces Eliminate ISIS Second-in-Command in Joint Operation
U.S., Nigerian Forces Eliminate ISIS Second-in-Command in Joint Operation
By: Zagazola Makama
The United States has announced the elimination of Abu-Bilal al-Minuki, described as the second-in-command of the global Islamic State terrorist network, during a joint counterterrorism operation conducted with Nigerian security forces.
In a statement issued on Friday, Donald Trump said American forces, working alongside the Nigerian Armed Forces, carried out what he described as a “meticulously planned and very complex mission” targeting the terrorist leader.
According to Trump, Abu-Bilal al-Minuki had been operating from Africa and was considered one of the most active terrorist figures globally.
“Tonight, at my direction, brave American forces and the Armed Forces of Nigeria flawlessly executed a meticulously planned and very complex mission to eliminate the most active terrorist in the world from the battlefield,” Trump said.
He stated that the operation was enabled through intelligence sources that tracked the activities and movements of the ISIS commander.
Trump added that the removal of al-Minuki would significantly weaken the global operations of the terrorist group and reduce its capability to coordinate attacks, including plots targeting American interests.
He also thanked the Nigerian government for its cooperation and partnership in the operation.
“With his removal, ISIS’s global operation is greatly diminished. Thank you to the Government of Nigeria for your partnership on this operation,” he said.
Neither the U.S. nor Nigerian authorities immediately disclosed the exact location or operational details surrounding the mission.
The development marks one of the most significant counterterrorism operations involving U.S. and Nigerian forces in recent years against transnational terrorist elements linked to the Islamic State network.
U.S., Nigerian Forces Eliminate ISIS Second-in-Command in Joint Operation
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