The Federal Government has taken decisive steps to reposition the Bank of Agriculture (BoA), a critical institution in Nigeria’s agricultural landscape in a bid to revitalize the agricultural sector and bolster the socio-economic development of the country.
Presiding over a progress report meeting held in his office in Abuja on Monday, the Minister of Finance, and Coordinating Minister of the Economy, Wale Edun highlighted the BoA’s crucial role in boosting agricultural production, as well as stabilising prices
He 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.
Edun expressed confidence that with the right strategy and leadership, the BoA could drive agricultural expansion and contribute to long-term economic stability.
Mohammed Manga, Director, Information and Public Relations in the Federal Ministry of Finance said with the Bank of Agriculture poised for revitalization, Nigeria’s Agricultural sector is on the cusp of a transformative era, and 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.
According to him, 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.
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