News
NCP Mulls BOA-NIRSAL Merger, Injection Of Fresh Capital
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
News
Bomb explodes inside mosque in Maiduguri market, worshippers killed
Bomb explodes inside mosque in Maiduguri market, worshippers killed
By: Zagazola Makama
Several worshippers were killed on Tuesday after an explosive device detonated inside a mosque at Gamborun Market in Maiduguri, the Borno State capital.
The explosion occurred while worshippers were gathered for prayers, causing panic and chaos within the busy market area.
Eyewitnesses said the blast ripped through part of the mosque, killing some worshippers instantly and leaving others with varying degrees of injuries.

Traders and residents in the area were seen fleeing the scene as thick smoke billowed from the mosque, while others attempted to assist victims before emergency responders arrived.
Security operatives cordoned off the area shortly after the incident to prevent further casualties and to allow for preliminary assessment of the situation.

As of the time of filing this report, the exact number of casualties had not been officially confirmed.
Bomb explodes inside mosque in Maiduguri market, worshippers killed
News
Igbo Association Raises Alarm Over Abuja–South East Highways, Seeks Urgent Federal Action
Igbo Association Raises Alarm Over Abuja–South East Highways, Seeks Urgent Federal Action
By: Michael Mike
Igbo residents in the Federal Capital Territory (FCT), Abuja have expressed worries about the worsening condition of major highways linking Abuja to the South East, warning that continued neglect has turned the roads into serious safety hazards for commuters and businesses.
In a statement released on Tuesday, the Igbo Community Association in the Federal Capital Territory (ICA FCT) said the poor state of the road network had persisted for decades, despite repeated appeals for rehabilitation.
The group in a statement signed by the association’s President General, Engr. Ikenna Ellis-Ezenekwe, and Secretary General, Mazi Emmanuel Chinwoke Onah,
noted that large sections of the highways are riddled with potholes, failed portions and weak security presence, making travel dangerous and discouraging economic activities between the North Central and South East regions.
The group argued that the situation reflects long-standing infrastructure neglect and an uneven distribution of national resources, adding that the dilapidated roads have become attractive routes for criminal operations, including armed robbery and kidnappings.
According to ICA FCT, the impact of the bad roads goes beyond transportation challenges, contributing to youth frustration, reduced commercial exchanges and a growing sense of exclusion among people of the South East. The association urged the Federal Government to declare an emergency on the affected corridors and begin immediate reconstruction to ensure the safety of travelers, particularly during the festive season.
The association also called on lawmakers from the South East and the Minister of Works to take responsibility for restoring the roads to acceptable standards, stressing that infrastructure development is critical to national cohesion and economic growth.
Warning of political consequences, the group said communities in the South East would hold their representatives accountable if tangible progress is not recorded before the 2027 general elections. It added that voters would be mobilized to oppose the re-election of lawmakers perceived to have failed in addressing the issue.
Reaffirming its commitment to the welfare of Igbo people, the ICA FCT said it would continue to advocate for improved infrastructure, enhanced security and equitable development across all regions of the country.
End
News
Yuletide: NEMA flags off emergency rescue operation in Gombe
Yuletide: NEMA flags off emergency rescue operation in Gombe
The National Emergency Management Agency (NEMA), Gombe State, in collaboration with the Federal Road Safety Corps (FRSC) has inaugurated Operation Eagle Eye, to ensure rapid response during the festive periods.
While declaring the operation open in Gombe on Wednesday, the state’s Head of Operations, Mrs. Ummuna Ahmed, said that the initiative was in view of increased road and human activities during the festive season.
Ahmed said that the operation was a strategic initiative designed to enhance timely rescue operations towards saving lives in the event of road traffic crashes, fire outbreaks, and other emergencies.
She reaffirmed NEMA’s commitment to protecting lives and property through effective coordination, early response mechanisms, and the strategic deployment of Search and Rescue personnel.
She appealed to motorists and other road users, to observe traffic regulations, drive responsibly, and cooperate with emergency responders to minimise preventable incidents.
“As part of the operation, NEMA Search and Rescue teams have been strategically deployed along major routes linking Gombe State to neighbouring states.
“These include the Gombe–Bauchi, Gombe–Yola, Gombe–Maiduguri, and Gombe–Kano corridors.
“The routes were identified based on their high traffic volume and strategic importance, with emergency personnel and assets, positioned to ensure swift intervention and life saving support whenever the need arises,” she said.
Ahmed urged members of the public to promptly report emergencies through appropriate channels to enable timely response.
She expressed NEMA’s readiness to respond promptly to emergencies, in collaboration with relevant stakeholders to ensure the success of Operation Eagle Eye.
On his part, the Sector Commander of FRSC in the state, Mr Samson Kaura, said that motorists would be sensitised on the need to observe traffic rules and regulations during and after the yuletide celebration.
Kaura said that the collaboration with NEMA was to ensure quick response to emergencies towards saving lives and property in cases of crash.
The News Agency of Nigeria (NAN) reports that following the inauguration, two emergency incidents were recorded at the Bauchi road axis of Gombe State, involving a total of seven casualties.
No deaths were however recorded.
The victims were promptly rescued and evacuated to the Federal Teaching Hospital, Gombe, for medical attention. recorded.
Yuletide: NEMA flags off emergency rescue operation in Gombe
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