News in brief:
– The National Council on Privatization in Nigeria has formed an ad hoc committee to expedite the restructuring and revival of the Bank of Agriculture (BOA).
– This initiative, crucial for achieving the administration’s goals, was announced during the council’s inaugural meeting.
Nigeria’s National Council on Privatization (NCP) has established an ad hoc committee dedicated to fast-tracking the restructuring and revival of the Bank of Agriculture (BOA)Â with a view to enhancing agricultural sector development,
This initiative aligns with the “Renewed Hope Agenda” of President Bola Tinubu’s administration which prioritises improved service delivery while fostering economic growth.
NCP’s announcement was made during the maiden meeting of the reconstituted council, chaired by Vice President Kashim Shettima at the State House in Abuja. Emphasising the council’s responsibility, particularly regarding BOA’s rejuvenation, Shettima stated that they have crucial decisions to make regarding the restructuring of the financial institution because it plays a vital role in achieving the goals of the current administration’s goal. Its success is crucial for both the council and the Tinubu-led government.
The ad hoc committee will be led by Finance Minister Wale Edun and comprise of other key stakeholders like minister of Agriculture and Food Security, Senator Abubakar Kyari; his counterpart at the ministry of Budget and Economic Planning, Senator Atiku Bagudu; the Governor of the Central Bank, Dr. Yemi Cardoso; Director General of the Bureau of Public Enterprise, Dr. Alex Okoh. Representatives of the Ministry of Finance Incorporated and chairmen of the NCP Technical and Legal Committees also constitute the body.
The committee is tasked with developing a roadmap for BOA’s resuscitation and presenting recommendations for its future direction.
Furthermore, Nigeria’s VP underscored the council’s importance in the opening address, urging members to diligently fulfill their responsibilities. He remarked that government will convene more frequently to assist the President in implementing the Renewed Hope Agenda.
Overall, by prioritising effective service delivery and supporting President Tinubu’s vision, the council aims to contribute to Nigeria’s economic prosperity.
