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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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Army will remain apolitical, committed to defending democracy – COAS

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Army will remain apolitical, committed to defending democracy – COAS

By: Zagazola Makama

The Chief of Army Staff (COAS), Lt.-Gen. Waidi Shaibu, says the Nigerian Army will remain apolitical and steadfast in protecting the nation’s democracy in line with its constitutional mandate.

Shaibu stated this on Saturday at the Passing Out Parade of the Executive Commission Course 2/2025 held at the Nigerian Army School of Infantry, Jaji.

He reiterated that the subordination of the military to constituted civil authority remains the foundation for professionalism, urging officers and soldiers to uphold democratic values at all times.

“We must safeguard this constitutional democratic governance that promotes the values and interests of every well-meaning Nigerian, irrespective of tribe or religion,” he said.

“I charge all Nigerian Army personnel to be proud champions of democracy and remain apolitical in discharging their constitutional duties.”

Shaibu assured Nigerians that the Army remains committed to protecting lives and property across the country, adding that troops are working round the clock to secure the territorial integrity of the nation and support other security agencies.

The COAS commended the Commandant of NASI and the training staff for the successful conduct of the course, noting that the achievements recorded in training and operations were made possible by government support.

He expressed gratitude to President Bola Ahmed Tinubu for his leadership and sustained assistance to the Nigerian Army, reaffirming the loyalty of officers and soldiers to the government and the Constitution.

Shaibu also thanked the Kaduna State Governor, Sen. Uba Sani, and the people of the state for their cooperation and support to Army formations and institutions.

He congratulated the passing-out cadets and their families, wishing them successful careers as they prepare to join units and formations across the country.

“The Nigerian Army awaits you all in the field,” he said.

Army will remain apolitical, committed to defending democracy – COAS

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COAS charges newly commissioned officers to uphold professionalism, loyalty at POP in Jaji

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COAS charges newly commissioned officers to uphold professionalism, loyalty at POP in Jaji

By: Zagazola Makama

The Chief of Army Staff (COAS), Lt.-Gen. Waidi Shaibu, has charged newly commissioned officers of the Executive Commission Course 2/2025 to uphold professionalism, integrity and loyalty as they begin their careers in the Nigerian Army.

Shaibu gave the charge on Saturday during the Passing Out Parade of the course at the Nigerian Army School of Infantry (NASI), Jaji, Kaduna State.

The COAS described the occasion as a significant milestone and congratulated the cadets for successfully completing the rigorous training that qualifies them for the Presidential Commission.

He urged the new officers to remain focused as they take up responsibilities in various operational theatres across the country.

“Your pips will be unveiled shortly, and you will begin individual and collective journeys filled with opportunities, challenges and important decisions,” he said.

“Amidst these, one thing must remain sacrosanct Nigeria must come first in all decisions and actions throughout this new phase of your careers.”

Shaibu emphasised the need for right character, courage, professionalism and resilience, assuring the cadets that the Nigerian Army Officers’ Corps would always stand with them as comrades and brothers-in-arms.

He advised them to rely on the training received at NASI and their experiences in service, stressing that in moments of doubt, their training should remain their guide.

The COAS reminded the officers that leadership required the ability to inspire confidence and make sound decisions.

“A bad plan is better than no plan at all, so ensure that you always have a plan,” he said.

“Always act with the hope for success and not the fear of failure.”

Shaibu highlighted the Army’s efforts to address welfare concerns related to their type of commission, assuring them of measures to support their professional and personal development.

He urged them to pursue continuous improvement through courses and trainings available in the Army, aligning with his Command Philosophy to transform the force into a more professional, adaptable and combat-ready institution.

COAS charges newly commissioned officers to uphold professionalism, loyalty at POP in Jaji

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COAS inaugurates land warfare wargaming centre, says facility will deepen officers’ operational planning

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COAS inaugurates land warfare wargaming centre, says facility will deepen officers’ operational planning

By: Zagazola Makama

The Chief of Army Staff (COAS), Lt.-Gen. Waidi Shaibu, on Saturday inaugurated the newly constructed Land Warfare Wargaming Centre at the Armed Forces Command and Staff College (AFCSC), Jaji, describing the project as a major milestone in strengthening operational training and military education in the country.

Shaibu, who served as Special Guest of Honour at the commissioning ceremony, said the state-of-the-art centre would significantly enhance the capacity of officers to engage in advanced operational planning, mission rehearsal and strategic decision-making.

He said the completion of the project demonstrated the military’s collective resolve to equip officers with the skills required to address contemporary and future security challenges.

“This centre is not only significant to this College but to the Nigerian Army and the entire Armed Forces of Nigeria,” he said.

“The successful completion of this project is a bold statement in our determination to deepen officers’ operational planning capabilities, enhance military education and further prepare our officers for emerging threats.”

The COAS commended the Armed Forces Command and Staff College for maintaining its reputation as a centre of excellence in producing high-quality middle-level officers who contribute to national defence objectives.

“As a proud graduate of this College, I am pleased to remain associated with its continuous transformation,” he added.

Shaibu applauded the progress recorded by the Department of Land Warfare, noting that the execution of several key projects by his predecessors had contributed to improved academic outcomes and a more effective learning environment.

He described the new Wargaming Centre as a necessary complement to the Lt Gen T.Y. Buratai Operations Centre, adding that it would enhance the training of officers in land warfare doctrine and joint operations.

The COAS expressed appreciation to President Bola Ahmed Tinubu for his “unrelenting support to the Nigerian Army,” saying such support made the execution of strategic projects possible.

He also thanked the Commandant of AFCSC, AVM HI Alhaji, for his commitment to improving the college’s infrastructure and training systems, and commended the Director of the Department of Land Warfare, Brig.-Gen. N.U.C. Ogili, for ensuring the timely and quality completion of the project.

Shaibu acknowledged the contributions of the directing staff, administrative officers and college community, noting that they were collective stakeholders in ensuring the effective utilisation and maintenance of the new facility.

He urged students, who are the primary beneficiaries, to make optimal use of the centre to enhance their understanding of operational art, strategic planning and battlefield decision-making.

“I congratulate the Commandant, staff and students of AFCSC on this historic achievement,” he said.

COAS inaugurates land warfare wargaming centre, says facility will deepen officers’ operational planning

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