The Nigerian government has inaugurated a new Board of Directors for the Bank of Agriculture (BOA), tasking it with repositioning the institution to expand agricultural financing and strengthen food security.
Speaking at the inauguration in Abuja, the Minister of Agriculture and Food Security, Senator Abubakar Kyari, said the board is expected to transform the bank into a stronger development finance institution that supports farmers, agribusinesses, job creation and agricultural growth.
Kyari disclosed that President Bola Tinubu has approved the recapitalisation of the bank, adding that ongoing reforms include a digital transformation programme aimed at improving loan processing and expanding access to credit.
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He also urged the board to align the bank’s activities with key government agricultural initiatives to expand financing opportunities across the value chain.
Minister of State for Agriculture and Food Security, Senator Aliyu Sabi Abdullahi, said the board must ensure funding reaches genuine farmers and agribusiness operators.
Responding, Board Chairman Alhaji Muhammad Babangida pledged to strengthen the institution through transparency, accountability, and improved access to finance, with a focus on supporting farmers and boosting agricultural productivity.
