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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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China, Nigeria Unite to Support Women’s Empowerment Through Film

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China, Nigeria Unite to Support Women’s Empowerment Through Film

By: Michael Mike

China is partnering with Nigeria and other nations to drive the comprehensive advancement of women worldwide, with a plan at opening a new chapter in global gender equality and empowerment.

Speaking during the celebration of the China Women’s Film Festival, the Deputy Ambassador, Embassy of the People’s Republic of China in Nigeria, Zhou Hongyou,
highlighted China’s deep-rooted policy of promoting gender equality, noting that the Chinese government has consistently supported women’s advancement in education, employment, and social status.

He explained that the upcoming Global Women’s Summit will focus on strengthening gender equality and empowering women as key drivers of sustainable progress. The summit aims to align international efforts with the UN 2030 Agenda for Sustainable Development, ensuring that women’s rights and opportunities remain central to global development goals.

“This year’s summit will focus on promoting gender equality and women’s development, and on advancing the implementation of the UN 2030 Agenda for Sustainable Development,” he said.

The envoy further revealed that China credits women as a central force in its rapid economic and social transformation, emphasizing their indispensable contributions to national progress.

“Chinese women have fully utilised their intelligence, talents and creativity, playing an indispensable role in China’s transformation from a poor and backward country to a world economic powerhouse in just over the past 50 years,” he stated.

He added that China also incorporates women’s development indicators into its national planning system, making gender equality a key measure of broader economic and social progress.

“China has integrated women’s development goals and tasks into its five-year plan for national economic and social development, using the status of women’s development as a key metric for assessing broader economic and social progress,” he added.

Hongyou further stressed China’s global outlook, particularly its cooperation with Nigeria and other countries, to promote women’s empowerment and sustainable progress worldwide.

“China is working with the Nigerian side and other countries around the world to accelerate the comprehensive development of women and open a new chapter in the advancement of the women’s cause globally,” he said.

On his part, the Chairman of the House Committee on Culture and Creative Economy, Hon. Gabriel Saleh Zock, commended China’s ongoing partnership with Nigeria in promoting cultural diplomacy through initiatives such as the China Women’s Film Festival. He emphasized that such collaborations not only celebrate women in film but also deepen creative and cultural ties between both nations.

He said: “I commend the Embassy of China and the China Cultural Center in Nigeria for their consistent commitment to building cultural diplomacy and fostering creative exchange between our two nations, Nigeria and China. This festival is another bridge linking our creative communities, inspiring new possibilities for cooperation, artistic collaboration, and knowledge exchange,” he stated.

Zock also stressed Nigeria’s dedication to gender inclusion and empowerment, revealing that the National Assembly is actively working to ensure greater female representation in governance, aligning with broader global goals for gender equality.

“Just like how we are doing in the National Assembly now, we are trying to amend the Constitution and make a reserve seat for 30% women inclusion in governance. By God’s grace, in the coming years, more women will take their rightful place in leadership and decision-making across our nation,” he said.

He highlighted the unifying power of art and culture, stressing that collaboration between Nigeria and China can lead to a future where creativity, peace, and prosperity thrive.

“Together, Nigeria and China can champion a creative future where talent knows no bounds and where art continues to unite humanity. When women tell their stories, society evolves; and when nations exchange their art, peace and prosperity follow. Let us reaffirm our shared responsibility to make cultural diplomacy a cornerstone of development and mutual understanding,” he added.

Delivering a goodwill message on behalf of the Honourable Minister of Women Affairs, H.E. Iman Suleman-Ibrahim, Ms. Rukkayah described the China Women’s Film Festival as a distinguished platform that celebrates creativity, resilience, and the power of storytelling to connect nations and inspire change.

“It is a great honor to join you at this year’s China Women’s Film Festival a distinguished platform that celebrates creativity, resilience, and the power of storytelling to connect nations and inspire change. Through the art of film, we are reminded that stories have the power to bridge cultures, ignite compassion, and build mutual understanding across borders,” she said.

She noted that the festival coincides with renewed international reflection on the Beijing Declaration and Platform for Action, underscoring its lasting influence on global gender equality and women’s empowerment.

“This festival holds a special significance as it coincides with the renewed global reflection on the Beijing Declaration and Platform for Action a landmark framework that has guided three decades of advocacy for women’s rights, gender equality, and empowerment. As the world revisits the spirit of Beijing, we reaffirm our shared duty to ensure that every woman and girl, everywhere, lives freely, fulfilled, and empowered to reach her full potential,” she added.

Rukkayah also highlighted Nigeria’s ongoing efforts under President Bola Ahmed Tinubu’s Renewed Hope Agenda, emphasizing programs designed to uplift women, strengthen families, and support vulnerable groups.

“For Nigeria, this moment aligns closely with the Renewed Hope Agenda of His Excellency, President Bola Ahmed Tinubu, which places people at the heart of national development. Through the Renewed Hope Social Impact Intervention Programme, the Federal Ministry of Women’s Affairs is driving transformative initiatives that promote women’s economic empowerment, strengthen the family system, enhance child protection, and improve welfare for vulnerable groups building a more inclusive, just, and compassionate society,” she said.

She further emphasized the growing partnership between Nigeria and China in promoting women-led innovation, cultural diplomacy, and creative exchange.

“Deepening collaboration with the Chinese Embassy in Nigeria holds immense promise for advancing women’s development. China’s success in leveraging culture, technology, and social innovation provides valuable lessons for Nigeria. Together, our partnership can expand opportunities for capacity-building, creative industry exchange, and women-led entrepreneurship particularly in film, digital storytelling, and cultural diplomacy ensuring that women’s voices continue to shape communities and inspire global progress,” she stated.

China, Nigeria Unite to Support Women’s Empowerment Through Film

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Boko Haram: Maiduguri-Damaturu road reopens after temporary closure

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Boko Haram: Maiduguri-Damaturu road reopens after temporary closure

By: Bodunrin Kayode 

The Maiduguri-Damaturu road, the only exit from the Borno state capital, has been opened to commuters after a temporary shutdown today after improvised explosive devices (IEDs) were planted against Nigerian troops.

The IEDs were set at the wee hours of the day when insurgents launched a fierce attack on the Ngamdu military base, causing damage to the general area for at least an hour.

Just before the first light of Friday, reinforcements were coming from Mainoc and Beneshiek but drove directly on top of IEDs, which the insurgents had planted before their aggression against the Ngamdu camp.

By first light, hundreds of commuters and their vehicles were already trapped at the exit point in Damaturu en route to Maiduguri as a result of the wee-hour attack on the base, while those coming from Maiduguri were also affected.

Those coming from Damaturu were stopped from embarking on the journey; one knows his/her fate, and no one is sure as to when the ever-busy road will reopen for free flow of traffic. 

Some of the troops were feared killed even as the suspected Boko Haram terrorists attacked the military base, which was a super camp expresswayin the Kaga local government area of Borno State.

A military source hinted that troops fought back for over an hour to stop the terrorists from overrunning the camp before 4 am, when the fracas reduced. 

Meanwhile, security sources said the insurgents operated for over an hour before the arrival of reinforcements.

The attack was a coordinated attack that involved a high number of criminals.

Responding to the incident, the spokesman for the 7th Division, Lieutenant Colonel Uba, stated that the attack has been successfully repelled by the military. 

“Troops of Operation HADIN KAI successfully repelled a coordinated terrorist attack in the Ngamdu general area, following a swift response by forces on the ground and reinforcement elements from 29 Task Force Brigade.

“The terrorists employed Rocket Propelled Grenades (RPGs), armed drones, and command-initiated Improvised Explosive Devices, targeting troops and own platforms. 

“Despite the intensity of the attack, troops held their ground and responded with superior firepower, inflicting significant losses on the terrorists.  Unfortunately, our own troops recorded 4 x Killed in Action (KIA) and 5 x Wounded in Action (WIA). Additionally, some Mine-Resistant Ambush Protected (MRAP) vehicles and Gun Trucks (GTs) sustained varying degrees of damage during the encounter.

“The terrorists attempted to prevent reinforcements and inflict further casualties by planting multiple IEDs along the Ngamdu–Damaturu Main Supply Route (MSR). This necessitated a temporary closure of the MSR, as engineers swiftly responded to clear 3 IED-laden spots. Following successful clearance, the MSR has now been reopened to both military and civilian movement.

“In response to the attack, troops were immediately resupplied with critical logistics, including MRAP tires and ammunition, to sustain operations and restore full mobility. Credible intelligence confirms heavy terrorist casualties, with reports indicating mass burials of about 15 bodies conveyed in pushcarts by the terrorists for burial around Bula Wura, near Wasaram.

“As part of continued efforts to dominate the area, 29 Task Force Brigade has launched fighting patrols and exploitation operations aimed at denying the terrorists freedom of action and consolidating operational gains.

“The gallantry and resilience of the troops have been commended, and the public has been assured that normalcy would be sustained with operations ongoing to maintain peace and security in the area.” Said Uba Sani.

Boko Haram: Maiduguri-Damaturu road reopens after temporary closure

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Borno State Councillors endorse Tinubu/Kashim for a second term

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Borno State Councillors endorse Tinubu/Kashim for a second term

By: Bodunrin Kayode

The forum of Councillors in Borno State have endorsed the enthronement of President Bola Tinubu for a second term

The Councillors all from the All Progressive Congress (APC) gave the endorsement during a news conference in Maiduguri on Friday led by their Chairman of the Forum Kellum Geshehu.

While endorsing the Tinubu-Shettima Ticket for 2027, they said that they were pleased with the developmental projects of President Bola Tinubu and their son Senator Kashim Shetima who they say equally deserves a second term for pleasing the masses with basic dividends.

They maintained that as grassroot politicians who understood the pains of the masses especially when the subsidies were removed, it was clear that the economic policies applied by the party at the National level has given rise to massive production of foodstuffs and the reduction of prices of basic staples which before now were beyond the reach of a lot of people.

“We also express our profound satisfaction with the progress of the Government under the leadership of His Excellency, President Bola Tinubu. We see the Renewed Hope Initiative gradually yielding fruits for Nigerians.

“We specifically thank Mr. President for the confidence and trust in our son, His Excellency, Vice President Sen. KashimShettima, who has proven to be a dedicated, loyal, and capable partner in development.

“Therefore, the Borno State Supervisory Councillors Forum unanimously endorse the Tinubu-Shettima ticket for the 2027 Presidential election. We strongly support the President to retain Vice President Sen. KashimShettima as mate for the 2027 Presidential ticket, ensuring continuity and socio-economic gains currently being achieved in our great country.”

The councillors gave the endorsement based on the fact that the APC party under Professor Babagana Zulum has been doing well in his second term in Borno state following in the footsteps of the party at the national level.

They named sectors like Agriculture, education and the health sector as major areas of achievement of the academic turned politician Governor Babagana Zulum who has been a trailblazer in developmental projects in the state.

Borno State Councillors endorse Tinubu/Kashim for a second term

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