The federal government has disclosed plans to to revive the Bank of Agriculture (BOA) through recapitalisation and restructuring efforts.
The move is aimed at strengthening Nigeria’s agricultural sector and securing national food self-sufficiency.
Vice President Kashim Shettima disclosed this in his address to the first National Council on Privatisation (NCP) meeting in 2024.
According to him, the Bank of Agriculture’s pivotal role in securing national food security and its widespread presence, with branches in every senatorial district across the country, were key assets in this critical mission.
Shettima further alluded to the potential of the Green Imperative Project, proposing its integration with the BOA’s restructuring plans.
“We have no business being poor. Nigeria must attain national food security. Let us leverage science and technology. There are three or four states that can feed the whole of this country,” the Vice President stated.
He further disclosed that a committee, under the leadership of the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, was in the final stages of preparing a report on the recapitalisation and restructuring of the BOA, adding that significant progress has been made, with key decisions already finalised, and further announcements anticipated soon.
