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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
VP Shettima Mourns Borno Terror Attack Victims, Says No Religion Endorses Killing Of Innocent Lives
VP Shettima Mourns Borno Terror Attack Victims, Says No Religion Endorses Killing Of Innocent Lives
By: Our Reporter
Ahead of his trip to Maiduguri, the Borno State capital, Vice President Kashim Shettima , has expressed grief over the death of 25 persons killed in the multiple explosions in different locations across Maiduguri, the Borno State capital on Monday.
He pointed out that no religion sanctions the killing of innocent lives, as the sanctity of human life remains a core tenet of major world faiths.
VP Shettima, who spoke on Tuesday during the closing of the Annual Ramadan Tafsir at the State House Mosque, Abuja, prayed Almighty Allah to grant the souls of those killed in the terror attack in Maiduguri eternal rest, reward them with Aljannah firdaus and give their family the fortitude to bear the irreparable loss.
Praying Almighty Allah to also vanish all agents of terror from the surface of the earth, the VP said, “May the lives of innocent souls – 25 of them – that lost their lives in Maiduguri last evening rest in peace. May Allah grant their souls eternal rest and reward them with His Aljannah firdaus, and may Allah also grant their families the fortitude to bear the irreparable losses.
“May Allah bring this madness to an end. No religion sanctions the killing of the innocent. Whatever that is motivating them, may Allah either guide them on to the right path or May Allah vanish them from the surface of the earth.”
The Vice President emphasised the need for all Nigerians to continue to pray for the country across every sector, as well as pray that the Almighty should continue to grant President Bola Ahmed Tinubu and members of his team wisdom, courage, sincerity and equity in service.
He noted that each season of Ramadan reminds Muslims of a truth that power often tries to hide from man, and that no sit is permanent, just as no office is ultimate and no human being stands above his dependence on his creator.
VP Shettima said, “In the presence of Allah, the distance between the mighty and the unknown vanishes. What remains is character, what remains is accountability, what remains is what we did with the trust placed in our hands.
“This is why gatherings such as this matters. They rescue public lives from arrogance; they retain soul to scale; they teach those entrusted with authority that the nation is not built by policy alone but by conscience; not by proclamation alone but by restraint; not by ambition alone but by fear of Allah.”
The VP called on the Muslim faithful to continue to live in the teachings and lessons of the month of Ramadan, as the final days of Ramadan begins to sleep through their fingers.
“The question before us is not whether Ramadan is ending. The question is whether its teachings will continue to live in us after the moon has changed.
“It is quite easy to cut the head when the atmosphere is charged with devotion. The harder task is to carry it into ordinary days, into the market, into the office, into the home, into the chamber of power, and into the private corners where only Allah sees what we are doing, ” he noted.
While drawing from the lessons of Ramadan, the Vice President said the holy month had thought the Muslim faithful that pity without mercy is noise and worship without service is incomplete.
“So, as we close this year’s Tafsir, let us not return to the habits that weaken our common lives; let us not go back to bitterness, to reckless speech, to indifference dressed as sophistication. A believer doesn’t spend the whole month learning only to become a captive again of anger, greed and division.
“Nigeria needs homes where children encounter good examples before good advice. Nigeria, indeed, needs leaders in every spare who understand that influence is a trust, not a license, ” VP Shettima said.
He paid growing tribute to the Chief Imam of the State House Mosque, Sheikh Abdulwaheed Suleiman Abubakar, and his lieutenant for conducting the Tafsir with wisdom, calm hearts.
Earlier, the Chief Imam prayed for sustainable peace and development of Nigerian and the success of the Tinubu administration’s policies and programmes.
The cleric emphasised the need for leaders at all levels to continue to discharge their responsibilities with the fear of Allah for the process and development of the country.
VP Shettima Mourns Borno Terror Attack Victims, Says No Religion Endorses Killing Of Innocent Lives
News
IGP Visits Maiduguri Bombing Sites, Assesses Security Measures
IGP Visits Maiduguri Bombing Sites, Assesses Security Measures
By: Zagazola Makama
The Inspector-General of Police, Olatunji Rilwan Disu, has visited victims of the recent IED explosions in Maiduguri and assessed the security situation at key attack sites, underscoring the force’s commitment to public safety.
The IGP visited the University of Maiduguri Teaching Hospital (UMTH), where casualties of the bomb blasts are receiving medical attention. He commiserated with victims and their families, assuring them of the Nigeria Police Force’s resolve to identify and dismantle networks responsible for the attacks.

Following the hospital visit, he proceeded to the Maiduguri Monday Market, one of the sites targeted by the terrorists, for an on-the-spot security assessment. The visit included interactions with local security personnel to review operational preparedness and strengthen coordinated response measures.
The IGP also visited the Borno State Government House and the State Police Command Headquarters as part of ongoing engagements to enhance collaboration between federal and state security agencies.

He emphasized that security has been significantly tightened across Maiduguri and its environs, with increased patrols, surveillance, and joint operational deployments aimed at preventing further incidents. Residents were reassured of the force’s commitment to safeguarding lives and property in the aftermath of the attacks.
IGP Visits Maiduguri Bombing Sites, Assesses Security Measures
News
Save us From Heavy Trailers Killing Our People… Muna Garage Residents Cry Out to Zulum
Save us From Heavy Trailers Killing Our People… Muna Garage Residents Cry Out to Zulum
By: Bodunrin Kayode
Residents of Muna axis after customs area in Maiduguri have called on Governor Babagana Zulum to save them from the excesses of heavy duty vehicles who deliberately clog the international highway leading to Gamboru Ngala council area on a daily basis.
Some of the residents who spoke to this reporter after a recent crash which almost killed all the occupants of a commercial “Keke” regretted that the road traffic authorities in the state have not given this international highway the priority it deserves in terms of traffic management due to it’s prominence.
A careless trailer which was parked along the road close to the Alkome police hospital had narrowed the road for another trailer and a Keke nappe which struggled for the little space remaining all driving towards the Muna Garage area when a brush occurred and a sudden bang from the back by a third trailer which almost killed all the occupants of the keke nappe.
Some of the commuters came out alive from the crushed Keke with minor wounds while a particular man had his forefoot crushed almost hanging away from the ball of one of that very foot.
It was a bloody weekend for the commuters as blood from one of them flowed freely into the Keke and on the tarred road leading to Muna while onlookers rushed to see if anyone survived the crash.
Since no security personnel showed up within the first 30 minutes of the crash, the wounded were rushed to a nearby hospital while the trailer cleared from the road to ease traffic movement.
Most of the eye witnesses were enraged by the incident with some blaming it on the Keke riders while others castigated the trailers who insist on parking on the shoulder of this international route which should be free from these kinds of challenges.
Baana, a vulcanizer who says he has spent over three decades on this axis of the town called on Governor Babagana Zulum to as a matter of urgency build a massive modern trailer park for the heavy trucks so that they will stop parking along the road while they wait for clearance in the morning to embark on their journeys to Ngala and beyond.
“Lack of a modern trailer park is the main reason why we keep recording lingering accidents on a daily basis here with countless of people being wounded and are not recorded in the government statistics.” He stressed.
For mallam Isa, a teacher inside the suburb behind Alkome police Hospital, the Governor should as a matter of urgency sign an executive fiat to stop trailers from parking on main roads like this one leading to Mafa,Dikwa and Ngala.
” We are calling on the Governor to invoke an executive order based on section 5 of the 1999 constitution by banning all trailers from parking on the trunk A roads leading to Chad, Niger and Cameroon.
” This is because, apart from endangering the lives of commuters, prolonged stay on the tarred roads cause a lot of damage to the roads which the Governor has dualized after destruction by insurgency.”
Mallam Isa also called on Federal and State Road Safety managers in the state to create a road side emergency station along this route that would be assisting them in clearing accident victims in the road throughout the week and even during the weekend.
“look at this accident that just happened, they are all guilty of one offence or the other. But I equally blame the Keke riders because if they have respect for human lives, they will not be contesting for right of way with heavy duty trailers.
” These trailers are very wicked people. They use their big structures to block and entrap people only to be begging for mercy when the damage has been done.
” Their excesses are as grave as that of the keke napep people. The Federal Road Safety and the Borno traffic management authorities should increase their fines further to serve as deterrent on the rest.
Save us From Heavy Trailers Killing Our People… Muna Garage Residents Cry Out to Zulum
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