February 2, 2025
The Federal Government has reiterated its decision to restructure and recapitalize the Bank of Agriculture, BoA, as part of efforts towards strengthening the economy and enhancing food security.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, who presided over a progress report meeting emphasized BoA’s crucial role in boosting agricultural production and stabilising prices. While monetary measures are being implemented, he explained that there was need for fiscal and real-sector strategies to increase output, support economic growth, and address inflation.
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The National Council on Privatization, NCP, has challenged its technical committee develop a comprehensive roadmap for repositioning the bank. Edun expressed confidence that with the right strategy and leadership, the BoA could drive agricultural expansion and contribute to long-term economic stability and food security.
