FG to step up privatisation of BoA

The Federal Government has stepped up the privatisation of the Bank of Agriculture (BoA), as part of the new initiative to boost the delivery of credit facility to the nation’s players in the agriculture sector.

Under the new arrangement, the bulk of the share-capital holding of the bank, would be sold to farmers associations in the country, while, government would control minority share.

Audu Ogbe, minister of agriculture and rural development, made this disclosure on Thursday, during an interaction session held with stakeholders in the agriculture sector at the ongoing National Council Meeting on Agriculture, holding in Kano.

According to Ogbe, the ongoing effort to change the ownership structure of the bank will be implemented under a new roadmap for agriculture development conceived by Buhari administration.

The minister disclosed that the resolve to change ownership structure of the bank would make it more functional in the government `s effort to deliver credit facility to Nigerian farmers.

He noted that the major factor hampering the growth and development of agriculture practices in the country was the difficulties farmers do face, while trying to access credit.

In the same vein, the minister said that government has concluded plans in the new farming session to establish grazing reserve for pastoralists engaging in cattle breeding in the country.

“I am happy to bring to your attention that this government is very determined to change the face of farming in the country, and one of the ways we are going to do this is the privatization of Bank of Agriculture.

The minister also disclosed that under the agriculture roadmap, the about 90 water dams situated across the country, particularly, the 45 of them which are located in Oyo, and Kano states would be put in active use.

He said that his Ministry would execute the action plan in partnership with the Federal Ministry of Water Resources, which is in control of water infrastructures, such as dams in the country.

Adeola Ajakaiye