In a decisive step to bolster Nigeria’s agricultural sector and drive economic growth, the Federal Government has initiated efforts to reposition the Bank of Agriculture (BoA), a key institution in the country’s agro-finance landscape.
Presiding over a progress report meeting in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, emphasized BoA’s critical role in enhancing agricultural productivity and stabilizing food prices. He reaffirmed the government’s commitment to restructuring and recapitalizing the bank as part of broader measures to strengthen the economy and improve food security.
The minister highlighted the need for fiscal and real-sector strategies to boost output, support economic expansion, and curb inflation. He disclosed that the National Council on Privatization (NCP) has directed its technical committee to develop a comprehensive roadmap for the bank’s repositioning.
Expressing confidence in the initiative, Mr. Edun stated that with the right strategies and leadership, the BoA could drive agricultural expansion and contribute to Nigeria’s long-term economic stability.
As the government implements key reforms, Nigeria’s agricultural sector is poised for transformation, promising increased food production, economic growth, and a more secure future for the nation.
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