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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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Four Killed, Three Injured in Attack on Illegal Mining Site in Plateau

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Four Killed, Three Injured in Attack on Illegal Mining Site in Plateau

By Zagazola Makama

Four persons have been killed and three others injured following an attack by unknown gunmen at an illegal mining site in Barkin-Ladi Local Government Area of Plateau State.

Security sources said the incident occurred at about 1:30 p.m. on May 2 at Mazat mining site, where the victims were reportedly engaged in unauthorised mining activities.

The sources disclosed that the assailants opened fire on the victims, killing four on the spot while three others sustained varying degrees of gunshot injuries.

According to the sources, the injured victims—two females and one male—were rushed to a nearby hospital for medical attention and are currently receiving treatment.

They added that the corpses of the deceased have been deposited at the hospital morgue for autopsy.

The sources further noted that security operatives were mobilised to the scene, while additional deployments have been made to track down the perpetrators.

They reiterated that night mining activities remain prohibited in the state, stressing that investigations into the incident are ongoing.

Four Killed, Three Injured in Attack on Illegal Mining Site in Plateau

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Security Operatives Repel Attack in Benue Community Over Land Dispute

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Security Operatives Repel Attack in Benue Community Over Land Dispute

By Zagazola Makama

Security operatives have repelled an attack on Okpute Ainuette community in Oju Local Government Area of Benue State following a renewed land dispute with a neighbouring community.

Security sources said the incident occurred at about 9:15 a.m. on May 2 when armed men, suspected to be from a community in Obi Local Government Area, invaded the area.

The sources disclosed that operatives swiftly responded to a distress call and mobilised to the scene, where they engaged the attackers in a gun duel.

According to the sources, the assailants fled into nearby bushes after being overpowered by superior firepower.

They added that no casualty was recorded during the encounter.

The sources further said security teams have commenced combing operations in surrounding bushes to track down and arrest the fleeing suspects.

They noted that additional deployments have been made to reinforce ongoing operations in the area, with efforts focused on restoring calm and preventing further clashes between the communities.

Security Operatives Repel Attack in Benue Community Over Land Dispute

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“Act Now or Lose the North”: KACRAN Issues Stark Warning as Insecurity Spirals Out of Control

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“Act Now or Lose the North”: KACRAN Issues Stark Warning as Insecurity Spirals Out of Control

By: Michael Mike

The Kulen Allah Cattle Rearers Association of Nigeria (KACRAN) has called on Northern leaders to set aside political differences and take decisive, collective action to address the worsening insecurity in Nigeria’s North-West and North-Central regions.

In a strongly worded press statement at the weekend signed by its National President, Hon. Khalil Mohammed Bello, the association expressed deep concern over the prolonged crisis, which it said has led to the deaths of thousands of innocent citizens, the destruction of property worth trillions of naira, and the widespread rustling of livestock—the primary source of livelihood for millions of families.

KACRAN described the situation as both tragic and avoidable, warning that continued inaction could inflict irreversible economic and political damage on the region.

The association particularly highlighted a disturbing report by Amnesty International concerning an incident in Kwara State, where several pastoralists—including women and children—were allegedly detained at a National Youth Service Corps (NYSC) orientation camp. According to the report, more than 150 detainees reportedly died due to disease and poor living conditions.

KACRAN called for a full, transparent investigation into the incident and demanded the immediate release of innocent individuals still in detention.

Central to KACRAN’s message is the assertion that Northern Nigeria possesses the resources and leadership required to end insecurity if there is genuine commitment. The group pointed to the region’s pool of experienced leaders—including former Heads of State, military officers, traditional rulers, and business figures—as critical assets that must be mobilized.

“The solution lies with us,” the statement emphasized, urging Northern stakeholders to take ownership of the crisis rather than shifting blame.

While calling for regional responsibility, KACRAN acknowledged efforts by President Bola Tinubu noting key security appointments and significant budgetary allocations—reportedly exceeding ₦5 trillion—to the defence sector as evidence of federal commitment.

However, the group cautioned that relying solely on the Federal Government without complementary local action would delay meaningful progress.

KACRAN also underscored the importance of dialogue, citing relative peace achieved in areas such as Birnin Gwari in Kaduna State and parts of Katsina State as proof that collaborative engagement among leaders can yield results.

Despite the reported incident, the association praised the Kwara State Government for its efforts in livestock development, particularly the creation of a dedicated ministry. It said these initiatives demonstrate goodwill toward pastoral communities, while urging authorities to ensure justice and prevent future occurrences.

KACRAN stressed the enduring unity of Northern Nigeria, warning against allowing political divisions to undermine shared heritage and coexistence.

“The North must not allow politics to destroy a house we all inhabit,” the statement read, calling for urgent action to restore peace, mutual respect, and stability across the region.

The association expressed hope that its appeal would galvanize leaders into coordinated action capable of ending the cycle of violence and rebuilding trust among communities.

“Act Now or Lose the North”: KACRAN Issues Stark Warning as Insecurity Spirals Out of Control

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