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NCP approves recommendation to reposition BOA

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By Matthew Denis

The National Council on Privatisation (NCP) has given its nod to the recommendations aimed at repositioning the Bank of Industry (BOA) to ensure food security for Nigerians.

Chaired by the Vice President, Sen. Kashim Shettima, the NCP approved the recommendations from the committee on BOA during its second meeting of 2024 held on Wednesday, April 24, 2024, at the Presidential Villa Abuja.

Speaking during the meeting, the Vice President emphasized the importance of optimizing BOA as part of the administration’s agenda to provide food security for the nation. He urged the committee to engage professionals with integrity to manage the process effectively.

Presenting the committee’s report, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, who is also the Vice-chairman of the NCP, highlighted the decision to reposition BOA for efficiency and effectiveness. He expressed confidence that the recommendations would guide the Council in revitalizing the Bank of Agriculture and positioning it globally.

One of the Key recommendations includes upgrading the Bank’s ICT infrastructure to automate processes and ensure accountability.

Recall that in 2023, an 8-member inter-ministerial team was set up by the NCP to review the state of affairs at BOA, given its critical role in agriculture and the administration’s commitment to food security. Additionally, in 2016, the NCP approved collaboration between the Bureau of Public Enterprises and the Federal Ministry of Agriculture and Rural Development, along with the Federal Ministry of Finance, to restructure and recapitalize BOA.

Established in 1972, BOA, formerly known as Nigeria Agricultural Cooperative and Rural Development Bank, is owned by the Federal Government of Nigeria (FGN), with the Ministry of Finance Incorporated (MOFI) holding 60% and the Central Bank of Nigeria (CBN) holding 40%.

The Bank is supervised by the Federal Ministry of Agriculture and Food Security (FMAFS).

BOA’s authorized share capital was increased in 2022 from N50 billion to N500 billion to facilitate its repositioning.

The committee, comprising the Minister of Finance & Coordinating Minister of the Economy as Chairman, Minister of Agriculture and Food Security, Governor of CBN, Ministry of Finance Incorporated (MOFI), Mr. Mohammed Mustapha Bintube, Chairman of the Technical Committee of the NCP, Chairman of the Legal Committee of NCP, and Director General of the Bureau of Public Enterprises (BPE) as the secretary, worked diligently to arrive at these recommendations.

In another development, the NCP also noted a proposal for the establishment of an independent system operator from the Transmission Company of Nigeria (TCN) to enhance efficiency in the nation’s power sector.

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Reps seek more financial investment for federal teaching hospitals

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The House of Representatives Committee Chairman on Health Institutions, Amos Magaji, has called for a sustained financial investment in the federal teaching hospitals across the country.

He said this will be in line with the Renewed Hope agenda of the President Bola Tinubu-led administration for the betterment of the citizenry.

Magaji disclosed this during an oversight visit of members of his committee to the Federal University of Health Sciences Teaching Hospital, Otukpo.

He stressed the need to allocate more funds in health sector, considering the primary responsibility of health institutions in the country.

Magaji appreciated the Chief Medical Director, CMD, and his management staff for showing interest in the growth of the teaching hospital, considering the tremendous achievements recorded within a period of one year.

He assured that he would work with his members to ensure that more funds are made available to develop the needed infrastructure including the medical equipment to meet up with the expectations of the people.

“We are glad to be in Otukpo today to see things for ourselves. We don’t want to depend on second hand information on the true condition of the Federal University Teaching Hospital Otukpo,” he said.

He assured the management of full support of the Federal House of Representatives as appropriate incentives would be given through interface with other critical stakeholders in Abuja.

The committee chairman enjoined the staff, whom he described as foundation staff to work as team despite the working condition, “we have seen how the environment is looking and we will continue to monitor the progress.

“So, as foundation staff, you all have the opportunity to write your name in gold.”

While welcoming the committee, the CMD, Prof Silas Ochejele, appreciated the federal government for the establishment of the teaching hospital in Otukpo which has drastically changed the medical services narratives in the state.

Ochejele thanked the House of Representatives Committee on Health Institutions for the pains to come down to Otukpo and believed that the visit has made them to see things themselves, which would go a long way in repositioning the hospital for the betterment of the people.

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JUST IN: Helicopter carrying Iran’s President crashes

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A helicopter carrying Iranian President, Ebrahim Raisi, has been involved in an incident while he was visiting neighbouring Azerbaijan, Iran’s semi-official Tasnim news agency reported on X on Sunday according to CNN.

“Some of the president’s companions on this helicopter were able to communicate with Central Headquarters, raising hopes that the incident could have ended without casualties,” it added.

It is unclear what the exact status is of Raisi’s helicopter, CNN reports.

The helicopter was part of a convoy of three helicopters. Two of those helicopters were carrying ministers and officials who arrived at their destination safely, according to Tasnim.

“Seyyed Mohammad-Ali Al-Hashem, Tabriz’s Friday Prayer Imam, and Foreign Minister Hossein Amirabdollahian were also reportedly on the helicopter with the president,” Tasnim said on X. BREAKING: Helicopter carrying Iran’s President involved in an accident

A helicopter carrying Iranian President, Ebrahim Raisi, has been involved in an incident while he was visiting neighbouring Azerbaijan, Iran’s semi-official Tasnim news agency reported on X on Sunday according to CNN.

“Some of the president’s companions on this helicopter were able to communicate with Central Headquarters, raising hopes that the incident could have ended without casualties,” it added.

It is unclear what the exact status is of Raisi’s helicopter, CNN reports.

The helicopter was part of a convoy of three helicopters. Two of those helicopters were carrying ministers and officials who arrived at their destination safely, according to Tasnim.

“Seyyed Mohammad-Ali Al-Hashem, Tabriz’s Friday Prayer Imam, and Foreign Minister Hossein Amirabdollahian were also reportedly on the helicopter with the president,” Tasnim said on X.

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NDDC to unveil 92 projects worth N84bn

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The Niger Delta Development Commission said it would commission 92 infrastructure projects valued at over N84 billion across five states in the region in the next two weeks.

This is according to a statement by the Director, Corporate Affairs, NDDC, Mr. Pius Ughakpoteni, made available to our correspondent in Uyo, the Akwa Ibom State capital, on Sunday

“With a forward-looking, innovative and result-oriented roadmap, the commission is well-equipped towards ensuring a holistic and sustainable development of the Niger Delta into a region that is economically prosperous, socially stable, ecologically regenerative and politically peaceful,” adding that the NDDC’s management “would explore means of reducing recurrent expenditure, while focusing on completing capital projects.

“And in the light of the above, NDDC, will in the next two weeks, commission 92 infrastructure projects executed at a cost of N84 billion across the nine mandate states in the region,” the statement partly read.

The projects include the 25.7 km Ogbia-Nembe Road which creates a road link to the ancient city of Nembe. For the first time in living memory, the 9.15 km of pre-fabricated vertical drains on the swamp and seven bridges are also among the star projects in the area.

These projects executed at the cost of N24 billion, cut the traveling time to Yenagoa, the Bayelsa State capital from 3 hours on dangerous water routes to 45 minutes and also opened up 14 communities for development.

Also slated for commissioning are the 132KV Transmission Line and I32KV/33KV sub-station electrification project, executed at a cost of N8.3bn to optimise power supply to Local Government Areas in the southern part of Ondo State.

The project covers the construction of 45km double circuit 33KV feeder lines from Omotosho Power Station (Hook-up point) to Okitipupa and two 30MVA, 132/33KV injection substations with breakers, gantry and substation automation. It also includes the construction of a 3-bedroom semi-detached bungalow as service quarters.

The capacity of the power station is optimised with the provision of 2 x 60MVA, 132/33KV transformer and other ancillary works at Okitipupa injection sub-station, rehabilitation of 35km 33/11KV transmission from Okitipupa-Igbokoda-Ugbonla and environs and the construction of 1km rigid pavement.

The electricity project will complement the Federal Government’s effort in the power sector development by improving power supply to Okitipupa, Igbokoda and other neighbouring communities in Ondo South Senatorial District, with direct value chain in small and medium scale industries, job creation and consequently engender growth and development in Ondo State.

Ughakpoteni also noted that in Akwa Ibom State, the NDDC will commission the 6.87 km Iko-Iwuochang road in Akwa Ibom South (Eket) Senatorial District of the state.

In Abia State, the commission will unveil the Obehie to Oke Ikpe road reconstructed at a cost of N3.5bn, among others.

Other projects for commissioning during the event include roads, electrification, a police station, health centres and school blocks.

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