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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.
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NCP Mulls BOA-NIRSAL Merger, Injection Of Fresh Capital

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Senegal President sacks Prime Minister Sonko, dissolves government amid growing tensions

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Senegal President sacks Prime Minister Sonko, dissolves government amid growing tensions

By: Zagazola Makama

Senegalese President Bassirou Diomaye Faye has dismissed Prime Minister Ousmane Sonko and dissolved the country’s government following months of growing political tensions between the two leaders.

The decision was announced late Friday through a presidential decree broadcast on state television.

According to the decree read by a presidential aide, President Faye “ended the duties of Ousmane Sonko and consequently those of the ministers and secretaries of state who are members of the government.”

No immediate replacement for Sonko was announced as of the time of filing this report.

The dismissal followed a parliamentary session earlier in the week during which Sonko openly criticised President Faye, further exposing divisions within the ruling political establishment.

Political observers said relations between the two leaders had deteriorated in recent months over issues relating to party leadership, governance direction and the management of state affairs.

Analysts noted that the development could introduce fresh political uncertainty in Senegal at a time the country is facing mounting economic pressures, including rising public debt and broader fiscal challenges.

The dissolution of the government is expected to trigger consultations within the ruling coalition ahead of the appointment of a new prime minister and cabinet.

Senegal has long been regarded as one of West Africa’s more stable democracies, but recent political tensions have continued to attract regional and international attention.

Senegal President sacks Prime Minister Sonko, dissolves government amid growing tensions

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Why the Diomaye–Sonko Split Became Almost Inevitable Amid Senegal’s Power Struggle

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Why the Diomaye–Sonko Split Became Almost Inevitable Amid Senegal’s Power Struggle

By: Zagazola Makama

The dismissal of Senegalese Prime Minister Ousmane Sonko by President Bassirou Diomaye Faye marks the culmination of a political rupture that many observers had long considered unavoidable.

What once appeared to be one of the strongest political alliances in contemporary Senegalese politics gradually evolved into a tense rivalry shaped less by ideology than by competing ambitions, institutional contradictions and the struggle for control of executive authority.

For months, tensions within the ruling camp had become increasingly visible. Though both men emerged from the same political movement and jointly embodied the rise of the PASTEF coalition against former President Macky Sall, the coexistence between a highly charismatic political mentor and a constitutionally empowered head of state proved difficult to sustain.

The crisis is anchored in a fundamental institutional reality:Senegal’s constitutional system ultimately concentrates executive legitimacy in the presidency.

While the Prime Minister exercises substantial governmental authority, the President remains the central pillar of executive power, deriving legitimacy directly from universal suffrage and serving as the supreme authority of the state.

Sources say that the conflict emerged because Sonko increasingly projected himself not merely as head of government, but as an alternative center of political gravity within the state apparatus.

Public speeches, political positioning and repeated demonstrations of personal influence created the perception that two competing executives were operating simultaneously within the same administration.

In highly presidential systems, such arrangements rarely survive for long.

Political theorists have often observed that leaders who attain supreme office tend to resist the emergence of rival figures whose popularity, influence or visibility may overshadow their own authority. The situation in Senegal increasingly reflected that classic tension between institutional legitimacy and political charisma.

Sonko’s political trajectory has long been built around a populist and confrontational style that resonated strongly with segments of Senegalese youth and anti-establishment voters. His appeal stemmed from a mixture of direct rhetoric, anti-system positioning, nationalist discourse and his ability to embody political resistance during years of confrontation with the former administration.

However, the same qualities that fueled his rise may also have contributed to his political isolation. Sourcds note that charismatic populist figures often struggle to adapt from opposition politics to the discipline and compromise required in governance. A political strategy built around constant confrontation can become difficult to reconcile with the institutional restraints of executive power-sharing.

Over time, Sonko appeared increasingly convinced that he remained the true engine behind the ruling coalition’s legitimacy and electoral success. That perception may have encouraged attempts to expand his political influence beyond the traditional boundaries of the prime ministerial office.

For President Diomaye Faye, allowing such an imbalance to persist carried political risks.

The removal of Sonko ultimately reaffirmed a basic constitutional principle, regardless of personal popularity, a Prime Minister remains subordinate to presidential authority in Senegal’s current institutional framework.

By dismissing his Prime Minister, Diomaye signaled that he intended to fully exercise the powers attached to the presidency rather than govern under the shadow of a more dominant political personality.

The decision may also represent an attempt to consolidate state authority, reassure institutional actors and prevent the emergence of dual centers of power capable of paralysing governance. Yet the move is not without danger.

Sonko still commands significant grassroots support and retains strong influence within sections of PASTEF and among politically mobilized youth constituencies. His removal could deepen divisions inside the ruling coalition and potentially reshape Senegal’s political landscape ahead of future elections.

One of the major questions now facing Senegalese politics is whether PASTEF can survive the split without suffering a major internal fracture. Political history across Africa shows that when alliances forged in opposition reach power, tensions often emerge over authority, succession and control of state institutions.

Some party officials and elected representatives may rally behind the President, who controls the state apparatus and constitutional legitimacy. Others may remain loyal to Sonko due to his personal popularity and historical role in the movement’s rise.

The outcome of that struggle could determine whether Senegal experiences a relatively stable political recomposition or enters a prolonged period of institutional tension.

Another key factor will be public sentiment. During years of opposition politics, confrontation and political mobilisation energized large sections of the electorate. However, governing presents different expectations. Many Senegalese citizens now appear increasingly concerned with economic management, institutional stability, governance reforms and social calm rather than perpetual political conflict.

That shift may strengthen Diomaye’s position if he succeeds in presenting himself as a stabilizing statesman capable of governing above partisan rivalries. At the same time, any perception that Sonko has been politically sidelined or unfairly neutralized could trigger renewed political mobilisation among his supporters.

The crisis illustrates a recurring lesson in political systems across the world. Conquering power together is often easier than sharing it afterward. The Diomaye–Sonko alliance was extraordinarily effective as an opposition force united against a common adversary. But once in office, the unresolved question of who truly embodied executive authority became increasingly difficult to avoid.

What began as political complementarity gradually transformed into institutional competition.

The final outcome remains uncertain. Diomaye may emerge stronger by consolidating presidential authority, or Sonko could retain enough political capital to remain a major force capable of reshaping Senegal’s future political balance.

Either way, the rupture marks a turning point in Senegalese politics and may redefine the future trajectory of one of West Africa’s most closely watched democracies.

Why the Diomaye–Sonko Split Became Almost Inevitable Amid Senegal’s Power Struggle

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Beyond the Frontline: Ashlee Momoh Foundation Restores Hope to Widows of Fallen Heroes

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Beyond the Frontline: Ashlee Momoh Foundation Restores Hope to Widows of Fallen Heroes

By Comrade Philip Ikodor

KADUNA – When a soldier falls in the line of duty, the echoes of the final salute eventually fade, but for the families left behind, a silent and grueling battle begins. While these brave men defended the nation’s sovereignty with courage, their widows are often left to navigate a minefield of poverty, trauma, and social isolation.

In a decisive move to address these challenges, the Ashlee Momoh Foundation (AMF) held a special outreach event at the Golden Orange Gate Hotel in Kaduna State on Thursday, May 21, 2026. The initiative sought to provide a lifeline to the families of departed heroes, framed not as charity, but as a profound national debt of gratitude.

The Chairperson and CEO of the Foundation, Princess Ashlee Momoh, emphasized that the AMF remains committed to ensuring no widow walks alone. She noted that the sacrifice of a soldier continues in the quiet hallways of homes where wives suddenly become sole providers.

“Many military widows face a daunting reality: sudden loss of income, housing insecurity, and a lack of access to specialized mental health support,” Princess Momoh stated. “Unless intentional interventions are made, these families remain trapped in a cycle of hardship that dishonors the legacy of the departed. Your story does not end in sorrow; it continues in purpose.”

Princess Momoh outlined the Foundation’s three strategic pillars designed to bridge the gap between loss and self-sufficiency:

Economic Independence: Providing small business grants, financial literacy, and vocational skills to restore dignity and autonomy.

Securing the Future: Offering scholarships and tuition assistance so that children do not pay for their fathers’ patriotism with their education. Emotional Fortitude: Establishing counseling and wellness groups to ensure widows are seen, heard, and sustained.

The Chairperson called for a “whole-of-society” approach, urging the government, private sector, and philanthropic organizations to join in collective action. While government intervention is pivotal, she noted that partnerships are essential to scaling the impact of these programs.

The event featured the distribution of empowerment gift items and the announcement of new scholarship awards. Prominent guests, partners and volunteers in attendance included Special Guests of Honor, Air Commodore Chris Dola (Rtd), PhD, and General Brown Yakubu (Rtd), CEO of Golden Orange Gate Hotel, both of whom delivered goodwill messages and also contributed immensely in support of the Foundation’s mission.

Beyond the Frontline: Ashlee Momoh Foundation Restores Hope to Widows of Fallen Heroes

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