By Ngozi Nwankwo
Minister of Agriculture and Food Security, Sen. Abubakar Kyari, said the Federal Government is repositioning the Bank of Agriculture to deliver more affordable finance to smallholder farmers, women, youth and agribusinesses in order to boost food production, create jobs and strengthen food security.
Speaking during a one-day retreat for the newly inaugurated Governing Board of the Bank of Agriculture in Abuja, Tuesday , Sen. Kyari charged the Board to explore innovative financing mechanisms such as blended finance arrangements, guarantees and credit enhancement schemes to de-risk agricultural lending and expand access.
He said, “The Bank has a critical responsibility to provide appropriate, affordable and accessible financial services to those who are often underserved by conventional financial institutions.”
The Minister noted that the success of the Bank will contribute significantly to the Federal Government’s efforts to achieve food security, reduce poverty, promote agro-industrial development and strengthen the resilience of agricultural value chains under the Renewed Hope Agenda.
He added that financing must be timely and responsive to the seasonal nature of agriculture to ensure it reaches the rural farmer, women in processing, youth in agribusiness and cooperatives seeking to expand.
Kyari urged the board to build strategic partnerships with state governments, development partners, financial institutions, the private sector, and cooperatives to mobilize more resources and expand the bank’s reach.
He stressed that the mandate was enormous and required broad collaboration.
The Minister further tasked the Board to develop a practical, measurable, and time-bound Strategic Roadmap for Repositioning the Bank, aligned with the Federal Government’s priorities on agriculture and food security
He stressed that effective governance, transparency and accountability must remain at the heart of the Board’s stewardship, with zero tolerance for practices that undermine the Bank’s credibility.
“Nigeria has enormous agricultural potential. What is required is a financial institution that is sufficiently strong, innovative, accountable and responsive to unlock that potential at scale,” he emphasized.
While congratulating the Chairman and members of the Board on their inauguration on 3rd July, 2026, Sen. Kyari expressed confidence that working with the Management of the Bank, the Ministry, State Governments and other stakeholders, the Board can reposition BOA as a more impactful institution.
In his remarks, the Minister of State for Agriculture and Food Security, Sen. Dr. Aliyu Sabi Abdullahi, urged the Board to focus on repositioning agriculture from subsistence production to a commercially viable, technology-driven and investment-oriented sector.
He revealed that the success of the Bank will impact the ability of farmers to produce, businesses to invest, create jobs for youth, and improve the affordability and availability of food for Nigerians.
Abdullahi charged the Board to be bold in thinking, disciplined in execution, and to serve with integrity and diligence, stressing that the central question before them is how the Bank of Agriculture can be repositioned to deliver greater and more sustainable impact to Nigerian farmers, agribusinesses and the Nigerian economy.
He further assured the Board of the Ministry’s continued guidance and stressed the need for leadership and professionalism to deliver measurable results in line with President Bola Ahmed Tinubu, sustained commitment to the agricultural sector.
In his welcome address, the Permanent Secretary, Federal Ministry of Agriculture and Food Security, Dr. Marcus Olaniyi. Ogunbiyi stated that “It is essential that the Bank continues to strengthen its corporate governance mechanisms and ensure strict compliance with all relevant laws, regulations, financial management requirements and established best practices.’’
