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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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Crime

Herdsman loses two cows to suspected hoodlums in Adamawa

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Herdsman loses two cows to suspected hoodlums in Adamawa

By: Zagazola Makama

Suspected hoodlums have killed two cows belonging to a herdsman in Shelleng Local Government Area of Adamawa State.

The incident, which occurred on Wednesday at about 3:30 p.m., took place in the Wuroyanka District of Shelleng.

A source in the area told Zagazola that the attackers, believed to be from Bare in Numan Local Government Area, ambushed the herder, Shehu Alhaji Yakubu, while he was grazing his cattle in the bush.

The assailants reportedly killed two of the animals before fleeing the scene.

Police and local hunters later visited the area to assess the situation and appealed for calm among residents to avoid reprisals.

A stakeholders’ meeting has been scheduled to discuss measures to prevent further tension between herders and farmers in the area.

Herdsman loses two cows to suspected hoodlums in Adamawa

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Over 600 patients receive free kidney dialysis, and other treatment on a monthly basis……………Bego

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Abdulahi Bego

Over 600 patients receive free kidney dialysis, and other treatment on a monthly basis……………Bego

By: Bodunrin Kayode

Over 600 patients receive free dialysis and additional treatment on a monthly basis at the Yobe State University Teaching Hospital (YSUTH), the Yobe state commissioner of information Abdulahi Bego has said.

He said that the free treatment was initiated by former Governor, Ibrahim Gaidam and was consolidated upon by the present administration of Governor Mai Mala Buni.

The Commissioner of information, Abdullahi Bego said that the increase of cases of Kidney diseases, mostly recorded in Jakusko, Nguru, Gashua, Yusufari and some other communities in Northern parts of the state, Governor Mai Mala Buni has came up with the continuation of the free treatment of all patients to save lives.

Bego gave this hint yesterday in an interactive session with some Journalists at the end of the 2-Day Progressive Governors Forum (PGF) 2025 Quarterly Strategy Meeting of Commissioners for information of All Progressive Congress, (APC) Governed States.

He noted that, yobe state has many cases of kidney diseases, as most of the communities on the shores of Yobe/Kumadugu River in northern part of the state suffered most”.

To address the roots causes of the incident, the Commissioner pointed out that, the State Government has established a Biomedical Science Research and Training Centre located at the College of Medical Sciences, Yobe State University.

The centre is fully equipped with equipment worth billions of naira, even as it is collaborating with University of Sussex, United Kingdom and some Researchers, including a US-based Dr. Mahmoud Maina, to take the place to the next level.

Mains a British-Nigerian neuroscientist and educator whose research is focused on the cellular and molecular pathogenesis in Alzheimer’s disease is expected to bring his expertise to bear in the project.

The impact of the state government’s initiative according to Bego, goes beyond providing immediate relief and medical consumables, but to also delve into the root causes of the kidney disease and prescribe proactive solute. .

He also explained that, Governor Buni who have since declared a State of Emergency in the health sector, has constructed over 400-bed capacity at Mamman Ali Maternal and Child Complex hitherto commissioned by the late President Muhammadu Buhari.

The state of the art facility located within the premises of YSUTH, he added, is not only saving millions of lives, but also serve as referral and research centre in addressing maternal mortality in the North East region.

On social infrastructures especially roads and drainage networks within rural and urban centres, the Commissioner said that, “apart from the ongoing construction of multi billion naira Fly Over within Damaturu metropolis, the state government has completed the rehabilitation of key roads such as Katarko-Goniri and Siminti-Godowoli stretch.

Other interventions are the Geidam-Bukarti, Bayamari-Yunusari, and Yunusari-Kanamma roads, Damaturu-Kalallawa 25.5-kilometer dual carriageway, facilitating access to the Muhammadu Buhari International Cargo Airport, and the dualization of the Abattoir Junction-New Bye-pass Roundabout on Potiskum road to manage high traffic volumes.

Additional projects are the construction of roads connecting various communities, such as Damagum-Gubana, Bulanguwa-Kumagannam, Nguru-Bulanguwa, Danchuwa-Garin Abba-Garin Bingel, Chumbusko-Tagali, Nguru Highway-Karasuwa Galu town, Fika-Maluri, Jaji Maji-Karasuwa town, and Kukuri-Chukuriwa-Dawasa among others”. Bego stated.

The Commissioner further explained that Governor Buni expended N3.5 billion in building four Ultra Modern Sesame Seeds Cleansing, Processing and Packaging processing centres across the state.

These factories he said, are located in Machina, Potiskum, Nguru and Damaturu local government areas, as Yobe state is the largest producer of Sesame seeds in Nigeria as at today.

Over 600 patients receive free kidney dialysis, and other treatment on a monthly basis……………Bego

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Man beaten to death over alleged affair with married woman in Bauchi

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Man beaten to death over alleged affair with married woman in Bauchi

By: Zagazola Makama

A 30-year-old man has been allegedly beaten to death by a husband for attempting to entice his wife in Lumbu community, Ningi Local Government Area.

Zagazola Makama learnt that the incident occurred at about 2:09 a.m. on Friday when the deceased, identified as Sanusi Tinau, allegedly visited the house of a yet-to-be-identified man to entice his wife.

The husband reportedly attacked Tinau, beating him to a state of unconsciousness before fleeing the scene.

Police operatives responded promptly, evacuating the victim to the General Hospital, Ningi, where he was confirmed dead by a medical doctor.

The report said efforts are ongoing to apprehend the fleeing suspect as investigation continues.

Man beaten to death over alleged affair with married woman in Bauchi

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