Fed Govt shops for N500 billion to recapitalise BoA

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Vice President Professor Yemi Osinbajo

Vice President, Prof. Yemi Osinbajo said the Federal Government plans to source for about N500 billion to restructure and recapitalise the Bank of Agriculture (BoA).

Osinbajo who spoke during the inauguration of a 21 member National Council on Privatisation Steering Committee on BoA restructuring and recapitalisation at the Federal Ministry of Agriculture and Rural Development, in Abuja.

Also inaugurated is a nine-member Project Delivery Committee to support the steering team, the committee members are expected among others to develop innovative ideas that will help revive and strengthen operations of the BoA.

Represented by the Minister of Agriculture and Rural Development, Chief Audu Ogbeh, the vice president said the exercise would support small and medium scale enterprise (SMEs), farmers, cooperatives, agro-allied industries and enable them to meet huge demand for agricultural produce for local production and exports.

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