By Gabriel Ewepu

ABUJA — Minister of Agriculture and Food Security, Senator Abubakar Kyari, has charged the newly inaugurated Board of Directors of the Bank of Agriculture (BoA) to prioritise access to finance for farmers and agribusinesses as part of efforts to boost food production and strengthen Nigeria’s agricultural sector.

Speaking during the inauguration of the board on behalf of President Bola Tinubu at the ministry’s headquarters in Abuja on Friday, Kyari said the bank occupies a strategic position in delivering the administration’s food security agenda.

According to the minister, improving access to agricultural financing remains central to achieving the objectives of the Renewed Hope Agenda.

“Food security is your founding mandate. Access to capital is the reason you exist. Every loan that reaches a farmer, a woman processor or a young entrepreneur creates jobs, promotes inclusion and contributes to peace,” Kyari said.

He urged the board to work closely with ongoing government agricultural initiatives and development partners to expand financing opportunities across the value chain.

Among the programmes he highlighted were the Special Agro-Industrial Processing Zones (SAPZ), the International Fund for Agricultural Development (IFAD)-supported Value Chain Development Programme, and the World Bank-backed AGROW initiative.

“Plug this Bank into these programmes. The days of fragmented interventions are behind us,” he said.

The minister also called on the board to strengthen governance and risk management, stressing the need to uphold transparency, accountability and professionalism.

He reminded members that their role was to provide strategic oversight while allowing management to handle the bank’s day-to-day operations.

Kyari also urged the board to support efforts aimed at reducing investment risks in agriculture and ensuring that the bank’s recapitalisation translates into increased lending to farmers and agribusinesses.

“We expect credit that reaches real farmers and real agribusinesses across the value chain, appraised on merit and recovered with discipline, because a development bank that does not recover its loans develops nothing,” he said.

He added that government expected the bank to become a customer-focused, technology-driven institution capable of delivering efficient financial services.

The newly inaugurated board comprises Alhaji Muhammad Babangida as Chairman; Mr Ayodeji Oludare Sotinrin as Managing Director and Chief Executive Officer; Hajiya Fatima Garba, Executive Director, Corporate Services; Mr Hakeem Oluwatosin Salami, Executive Director, Operations and Information Technology; Hajiya Ka’amuna Ibrahim Khadi, Executive Director, Risk Management; and Alhaji Rabiu Idris Funtua, Mr Kpochi Donald Iorgyer, Alhaji Aminu Malami Mohammed, Mr Oladejo Odunuga and Mr Charles Amuchienwa as Non-Executive Directors.

Responding on behalf of the board, Chairman Muhammad Babangida said members were committed to providing sound leadership that would strengthen the institution and improve its impact on agricultural development.

“The Bank of Agriculture occupies a strategic position as Nigeria’s foremost agricultural development finance institution, with a critical role in expanding access to finance for farmers, cooperatives, agribusinesses and rural entrepreneurs,” Babangida said.

He pledged that the board would work with management, shareholders and other stakeholders to improve operational efficiency, enhance institutional capacity and deepen public confidence in the bank.

“Our success will be measured not only by financial performance but by the impact we make in empowering farmers, supporting agribusinesses, creating jobs and improving livelihoods. We accept this responsibility with humility and a firm commitment to justify the confidence placed in us,” he added.