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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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Nigeria-China Relations at 55: Dialogue Highlights Achievements, Strategic Opportunities, and Shared Future

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Nigeria-China Relations at 55: Dialogue Highlights Achievements, Strategic Opportunities, and Shared Future

By: Michael Mike

Nigeria and China marked 55 years of diplomatic relations on Wednesday, February 11, 2026, with a high-level dialogue at the Institute for Peace and Conflict Resolution (IPCR), reflecting on past achievements and exploring opportunities for deeper cooperation across economic, cultural, and strategic sectors.

The event, themed “Nigeria-China at 55 and Beyond”, brought together senior government officials, diplomats, scholars, and private sector leaders. It featured remarks from the Emir of Kano, Mohammed Sanusi II, IPCR Director-General Dr. Joseph Ochogwu, representatives from the Chinese Embassy, and the Centre for China Studies (CCS), highlighting the significance of the long-standing partnership.

In his welcome address, Dr. Ochogwu described the dialogue as a timely platform to assess the evolution of Nigeria-China relations, which have grown from diplomatic ties to a comprehensive partnership spanning infrastructure, trade, technology, education, and people-to-people exchanges.

“Partnerships such as Nigeria-China relations must be continually examined through the lens of peace, stability, and sustainable development,” Dr. Ochogwu said. He emphasized that sustainable development and durable peace are inseparable, noting that economic cooperation must be people-centered, conflict-sensitive, and aligned with national and regional stability goals.

Emir Sanusi II reflected on his personal connection to Nigeria-China relations, recalling that his father, Ambassador Aminu Sanusi, served as Nigeria’s first ambassador to China in 1971. He highlighted the strategic importance of deploying experienced diplomats to critical posts, urging policymakers to prioritize long-term national interests over prestige when determining postings.

“Diplomatic deployments must align with national interests, particularly in emerging geopolitical realities,” he said. Sanusi also stressed that while Chinese infrastructure projects are welcome, Nigeria must focus on domestic production and industrialization to fully leverage bilateral cooperation under frameworks such as the African Continental Free Trade Agreement (AfCFTA).

Representatives of the Chinese Embassy reaffirmed China’s commitment to deepening strategic trust, advancing shared development, strengthening multilateral engagement, and promoting mutual learning among civilizations. They cited landmark achievements, including the Lekki Deep Sea Port, Zungeru Hydropower Station, the Ajaokuta–Kaduna–Kano (AKK) Natural Gas Pipeline, and railway modernization projects.

“Over 55 years, China and Nigeria have been trusted friends, supporting each other in national development and regional peace,” the Chinese delegation said. Bilateral trade surpassed USD 28 billion in 2025, a year-on-year increase of over 28 percent, while Chinese direct investment reached USD 690 million, up 103 percent from 2024. People-to-people ties, including educational exchanges, Confucius Institutes, and cultural festivals, were also highlighted as key pillars of the relationship.

The Centre for China Studies (CCS) underscored the historical context of the relationship, noting Nigeria’s early support for China’s seat at the United Nations in 1971 and the continued adherence to the One China Policy. CCS Director Charles Onunaiju emphasized that Nigeria is strategically positioned to benefit from China’s 15th Five-Year Plan and called for closer study of China’s governance and economic policies to inform national development strategies.

“Even though Nigeria and China have achieved much over the past 55 years, what lies ahead is even greater,” Onunaiju said, urging policymakers and scholars to focus on structural transformation, industrialization, and mutually beneficial cooperation.

The dialogue concluded with calls for strengthened strategic engagement, alignment of development priorities, and enhanced people-to-people exchanges, reflecting a shared commitment to sustainable development, regional stability, and a long-term partnership between the two nations.

Nigeria-China Relations at 55: Dialogue Highlights Achievements, Strategic Opportunities, and Shared Future

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Owo Church Attack: 8th DSS Witness Corroborates 7th’s Testimony Identifying 2nd Defendant Al Quasim As Part of Bloodbath

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Owo Church Attack: 8th DSS Witness Corroborates 7th’s Testimony Identifying 2nd Defendant Al Quasim As Part of Bloodbath

By: Our Reporter

An eight witness of the Department of State Services (DSS) in the ongoing trial of suspected attackers of the St. Francis Catholic Church in Owo, Ondo State, in 2022, on Wednesday corroborated the Tuesday testimony of a 7th witness who identified one of the suspects as being part of those who carried out the attack.

Like the 7th DSS witness did on Tuesday, the 8th also identified the 2nd defendant, Al Quasim Idris, as being part of those who allegedly killed the worshippers.

The witness, an Amotekun operative, told a Federal High Court in Abuja that he was one of the officers who arrived in the church premises shortly after the attack. He identified Al Quasim Idris as one of those who, shortly after the attack, exchanged gunfire at close range with him in a nearby bush.

The DSS is prosecuting Idris Abdulmalik Omeiza (25 years), Al Qasim Idris (20 years), Jamiu Abdulmalik (26 years), Abdulhaleem Idris (25 years) and Momoh Otuho Abubakar (47 years) over the June 5, 2022 attack on the church.

Earlier on Tuesday, another Amotekun officer, who is listed as the seventh witness of the DSS, in open court, identified Al Quasim Idris as one of those with whom he came face-to-face during a gunfight that ensued.

Led in evidence by the prosecuting lawyer, Ayodeji Adedipe (SAN), SSH, who is the eight prosecution witness (PW8), on Wednesday, gave details of how they trailed and tried to apprehend the attackers, resulting in the exchange of gunfire with Al Quasim Idris.

SSH said: “On June 5, 2022 as an operative of Amotekun, we received a distress call from the anti-kidnapping squad. We were on an anti-kidnapping mission when we received another call that there was an attack at the St. Francis Church, Owo.

“So, we were asked to withdraw and head to St Francis Church. On getting to the church, we met a crowd and managed to enter the premises.

“When we entered the church premises, we saw several dead bodies on the floor, both inside and around the church, including some injured people, including women and children,” he said.

The witness added: “We later came outside the church and learnt that the attackers were four in number and that they were the ones who zoomed off in a blue Nissan car as we were arriving.

“We got into our vehicle and started to trail them towards Ute Road, because that was the information we got. We were able to get close to them because our vehicle was better than the one they were in.”

SSH said at a point, “the attackers abruptly parked their car and ran into the bush. One of our men and a volunteer hunter went after them while the rest of us waited strategically.”

The witness said that it was during an intense gun battle with the attackers in the bush that he sighted Al Quasim Idris. He, however, added that the assailants succeeded in killing the volunteer hunter.

“We were able to get back to the bush to retrieve the body of the hunter,” the witness stated.

The Amotekun officer stated that they later took the Nissan car to their office before it was later moved to their state headquarters.

Under cross-examination by defence lawyer, Abdullahi Mohammad, the witness said he could not remember how many of them brought out the hunter’s corpse from the bush.

On whether they made efforts to identify the actual owner of the Nissan car, the witness said: “Before we moved the vehicle to the state headquarters at Akure, the owner came to our office to identify himself as the owner of the vehicle.”

When asked if they interviewed the owner of the vehicle, the witness said that was done in their office, but that he was not part of those who interviewed the owner of the car..

At the conclusion of the cross-examination, Adedipe prayed the court to grant a three consecutive day adjournment to enable the prosecution call its last set of witnesses and close its case.

The defence lawyer did not oppose, following which Justice Emeka Nwite adjourned till March 24, 25 and 26 for continuation of trial.

Owo Church Attack: 8th DSS Witness Corroborates 7th’s Testimony Identifying 2nd Defendant Al Quasim As Part of Bloodbath

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Bayelsa Deepens Angola Partnership, Moves to Activate MoU with Namibe Province

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Bayelsa Deepens Angola Partnership, Moves to Activate MoU with Namibe Province

By: Michael Mike

Bayelsa State has stepped up efforts to strengthen economic and diplomatic ties with Angola, as it moves to implement a Memorandum of Understanding (MoU) signed with Namibe Province during the renewed Nigeria–Angola Bilateral Commission.

The partnership, which began with an exploratory visit to the Angolan coastal province of Namibe, has now entered an implementation phase, with both sides expressing commitment to translating agreements into tangible economic outcomes.

Governor of Bayelsa State, Senator Duoye Diri, while receiving a delegation from Angolan President João Manuel Gonçalves Lourenço led by the Minister of State and Chief of the Civil House of the President of the Republic of Angola, Dionísio Manuel da Fonseca at Bayelsa House in Abuja on Wednesday, said the relationship between Bayelsa and Namibe was built on shared economic characteristics and strategic interests. The delegation included senior Angolan government officials and investment representatives.

He explained that the first visit to Namibe was exploratory, aimed at identifying areas of mutual interest. Namibe, like Bayelsa, is a coastal region with strong potential in aquaculture, fisheries, marine services and other blue economy sectors.

“Namibe is a coastal province like Bayelsa. We have a lot in common in terms of marine resources, fisheries and natural endowments. That informed our decision to foster closer cooperation,” the governor said.

The second engagement coincided with the Nigeria–Angola Bilateral Commission meeting — the first in over two decades, the last having been held in 2005. The high-level meeting was attended by Nigeria’s Minister of State for Foreign Affairs, federal government officials and representatives of subnational governments, including Nasarawa State.

It was during that session that Bayelsa State formally signed an MoU with Namibe Province, focusing broadly on economic development in sectors where both sides have comparative advantages. Nasarawa State also signed a separate agreement with another Angolan province.

The governor noted that although Nigeria and Angola have signed nearly 30 agreements over the years, many were not fully implemented. He described the renewed bilateral engagement as a deliberate effort to reverse that trend.

“What makes this engagement different is the emphasis on implementation. Many agreements were signed in the past but were not executed. This visit is a continuation of that renewed commitment to ensure that what we have signed does not remain on paper,” he stated.

Diri, while commending the Angolan Ambassador to Nigeria, Jose Bamoquina Zau, who was part of the visiting team for working diligently to sustain relations between both countries, acknowledged the role of Nigeria’s leadership in facilitating the revival of the bilateral commission.

The governor also disclosed that a planned reciprocal visit by the Governor of Namibe Province had been postponed due to unforeseen circumstances, including the sudden loss of his deputy governor last year. He, however, expressed optimism that the visit would take place soon.

“We look forward to hosting the Namibe governor in Bayelsa so that we can further consolidate this partnership. Stronger ties between our states and provinces will ultimately strengthen relations between Nigeria and Angola,” he said.

Observers say the Bayelsa–Namibe cooperation reflects a growing trend of subnational diplomacy aimed at boosting intra-African trade, attracting investment and unlocking the economic potential of the continent’s coastal and resource-rich regions.

With both sides signaling readiness to move beyond ceremonial agreements, the partnership is expected to focus on practical collaboration in fisheries development, aquaculture expansion, marine infrastructure and broader economic exchange — positioning Bayelsa and Namibe as strategic gateways for enhanced South–South cooperation.

Bayelsa Deepens Angola Partnership, Moves to Activate MoU with Namibe Province

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