FG unveils plan to restructure Bank of Agriculture, tackle inflation

The Federal Government has reiterated its commitment to restructuring and recapitalising the Bank of Agriculture (BoA) as part of broader efforts to strengthen the economy and bolster food security.

Speaking during a progress report meeting on Friday, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, underscored the BoA’s pivotal role in boosting agricultural production and stabilising market prices. While monetary policies are being implemented to address economic challenges, he emphasised the importance of fiscal and real-sector strategies to enhance output, support economic growth, and curb inflation.

As part of the revamp, the National Council on Privatisation (NCP) has directed its technical committee to develop a comprehensive roadmap for repositioning the bank. Mr Edun expressed confidence that, with the right strategy and leadership, the BoA could serve as a catalyst for agricultural expansion, ultimately contributing to the nation’s long-term economic stability.

The move aligns with the government’s broader agenda to revitalise key financial institutions and create a more resilient economic framework.

By Odigie Ehidiamen Kelvin