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From Adanna Nnamani, Abuja
In a strategic move aimed at revitalizing Nigeria’s agricultural sector and fostering economic growth, the Federal Government has initiated decisive measures to reposition the Bank of Agriculture (BoA), a critical institution within the country’s agricultural landscape. Speaking at a progress report meeting held in his office in Abuja on Monday, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said that BoA’s play an essential role in enhancing agricultural production and stabilizing market prices.
According to a statement issued by the ministry’s spokesperson, Mohammed Manga, Edun said that the Federal Government is commitment to restructuring and recapitalizing the Bank of Agriculture as part of broader efforts to strengthen the economy and improve food security across the nation. He stressed the importance of not only monetary measures but also fiscal and real-sector strategies to boost agricultural output, support economic growth, and mitigate inflationary pressures. Furthermore, he announced that the National Council on Privatization (NCP) has assigned its technical committee the responsibility of developing a comprehensive roadmap for the bank’s repositioning. Expressing optimism about the future, Edun stated that with appropriate strategies and effective leadership, the BoA could significantly drive agricultural expansion and play a crucial role in ensuring long-term economic stability for Nigeria.
“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,” stated.
