Barau Commends Tinubu For N1.5tr Re – capitalization Of BOA

The Deputy President of the Senate, Senator Barau Jibrin, has commended President Bola Tinubu for re – capitalization of the Bank of Agriculture ( BOA) with N1.5trillion.

Senator Barau made the commendation in his office after signing a Memorandum of Understanding ( MoU) with BOA on a N2.79b loan scheme to raise 558 young millionaires farmers across the seven and 186 local government councils in the North- West Geo-political zone.

“The boosting of the capital base of Agriculture with re – capitalization of the Bank of Industry with N1.5trillion as contained in the N54.9trillion 2025 budget by President Bola Tinubu is highly commendable”.

“The Memorandum of Understanding on the N2.79billion loan Scheme to raise 558 young millionaires farmers in North West, just signed by me with the Bank of Industry under the Barau I Jibrin Foundation (BIJF), is meant to leverage on the boosting of the capital base of BOA for revolutionizing Agriculture in the country in tandem with Barau’s Initiative for Agricultural Revolution in Nigeria ( BIARN).

“This initiative is envisioned to complement the Federal Government’s policies on food security and food sufficiency in the country.”

“It is geared towards revolutionising agriculture in Nigeria, particularly in the North West geo – political zone which at the first stage, aims at raising 558 young millionaire farmers in the zone on the basis of three per each of the 186 local government councils.”

“The N2.79billion loan scheme will not only drive productivity in the agricultural sector in the North West but facilitate prosperity through gainful engagement of the targeted beneficiaries who are to be in the categories of Higher National Diploma ( HND), Bachelor’s Degree, Masters Degree and Ph:D holders who will ultimately end up as employers of labour with capacity to raise millionaire farmers”, he said.

Earlier in his remarks, the Managing Director of the Bank of Agriculture ( BOA), Alwan Ali Hassan, assured Senator Barau that his initiative on the loan scheme would be well implemented and coordinated successfully.

“BOA is very happy with the initiative to revolutionize Agriculture in the Northwest geo – political zone towards raising 558 young millionaires farmers in the area of Maize and Rice cultivation as a starting point”, he said .

James Itodo, Edited By Grace Namiji