Deputy Senate President Barau Jibrin has commended President Bola Tinubu for the re-capitalisation of the Bank of Agriculture (BOA) with N1.5 trillion.
Barau gave the commendation after signing a Memorandum of Understanding (MoU) with BOA on the N2.79 billion loan scheme.
According to Barau, the re-capitalisation of BOA demonstrates Tinubu’s resolve to enhance agriculture in Nigeria, adding that the president was serious and has a passion to turn around the agricultural fortunes of this country for the better.
“The boosting of Agriculture with the recapitalization of the Bank of Industry with N1.5trillion as contained in the N54.9 trillion 2025 budget by President Tinubu is highly commendable.
He said the MoU with the BOA was for the empowerment of 558 young millionaire farmers across the seven states and 186 local government councils in the North-West geo-political zone.”
“The MoU on N2.79 billion loan Scheme to raise 558 young millionaire farmers in North-West with the Bank of Industry under the Barau I. Jibrin Foundation (BIJF).
“It will leverage on boosting of capital base of BOA for revolutionising Agriculture in Nigeria in line with Barau’s Initiative for Agricultural Revolution (BIARN).
“This initiative is envisioned to complement the Federal Government’s policies on food security and food sufficiency in the country.
“It is geared towards revolutionising agriculture in Nigeria, particularly in the North-West geo-political zone.
“The first stage aims at raising 558 young farmer millionaires in the zone on the basis of three per each of the 186 local government councils.
“The N2.79 billion loan scheme will not only drive productivity in the agricultural sector in the North-West but facilitates prosperity through gainful engagement of the targeted beneficiaries.”
Barau said the targeted beneficiaries would be in the categories of unemployed Higher National Diploma (HND), Bachelor’s Degree, Masters Degree and PhD holders, who would ultimately end up as employers of labour with the capacity to raise millionaire farmers.
Earlier in his remarks, the Managing Director of BOA, Alwan Hassan, assured Barau that his initiative on the loan scheme would be well implemented and coordinated.
” BOA is very happy with the initiative to revolutionise agriculture in the North-west geo-political zone towards raising 558 young farmers millionaires in maize and rice cultivation as a starting point,” he said.
