The Federal Government has reaffirmed its commitment to revamping the Bank of Agriculture (BoA) to enhance food security and strengthen the economy.
During a progress report meeting on Friday, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, emphasized the critical role of the BoA in boosting agricultural production and stabilizing food prices.
He highlighted that while monetary policies are being implemented to manage inflation, there is a need for fiscal and real-sector strategies to increase output and support sustainable economic growth.
As part of this initiative, the National Council on Privatization (NCP) has directed its technical committee to develop a comprehensive roadmap for restructuring the bank. The goal is to ensure that the BoA can effectively support farmers, agribusinesses, and the broader agricultural value chain.
Minister Edun expressed confidence that with the right reforms and leadership, the BoA could become a key driver of agricultural expansion, leading to long-term economic stability and increased food production in Nigeria.
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