FEDERAL GOVERNMENT REVITALIZES BANK OF AGRICULTURE TO BOOST ECONOMIC GROWTH, FOOD SECURITY

From left to right: Minister of Agriculture and Food Security, Abubakar Kyari, Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, Minister of Finance and Coordinating Minister of the Economy, Wale Edun, the Director-General, Bureau of Public Enterprises, Ayodeji Gbeleyi and Managing Director of MOFI, Armstrong Takang

.... As Wale Edun reaffirms 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.

.... Expresses confidence that with the right strategy and leadership, the BoA could drive agricultural expansion and contribute to long-term economic stability.

The Federal Government has taken decisive steps to reposition the Bank of Agriculture (BoA), a critical institution in Nigeria's Agricultural landscape. This is in its bid to revitalize the agricultural sector, bolster economic growth and socio-economic development of the country,

Presiding over a progress report meeting held in his office in Abuja today, the Honourable Minister of Finance, and Coordinating Minister of the Economy, Mr. Wale Edun highlighted the BoA’s crucial role in boosting agricultural production, as well as stabilising prices

He reaffirmed 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.

This is contained in a statement issued and signed by Mohammed Manga, FCAI, the  Director, Information and Public Relations of the Federal Ministry of Finance Abuja.