The Federal Government has disclosed plans to reposition the Bank of Agriculture (BoA), to boost the nation’s food security and economic growth.
Minister of Finance, and Coordinating Minister of the Economy, Mr. Wale Edun, who disclosed this on Monday, highlighted the BoA’s crucial role in boosting agricultural production, as well as stabilising prices.
Mr. Edun, in a statement by the Director, Information and Public Relations of the Ministry, Mohammed Manga, reaffirmed the Federal Government’s commitment to restructuring and recapitalizing the Bank of Agriculture (BoA) as part of efforts to strengthen the economy and enhance food security.
While monetary measures are being implemented, he stressed the need for fiscal, real-sector strategies to increase output, support economic growth, and dampen inflation.
He informed that the National Council on Privatization (NCP) has tasked its technical committee with developing a comprehensive roadmap for repositioning the bank.
HM Edun expressed confidence that with the right strategy and leadership, the BoA could drive agricultural expansion and contribute to long-term economic stability.
With the Bank of Agriculture poised for revitalization, Nigeria’s Agricultural sector is on the cusp of a transformative era. As the government works tirelessly to implement fiscal, real-sector strategies, the nation can look forward to increased food security, economic growth, and a brighter future for all.
By harnessing the potential of the Bank of Agriculture, Nigeria can unlock its full agricultural potential and solidify its position as a leader in regional, global food production.
