FG to recapitalize BOA,transfers Power Plant operations  to Penstock

Vice President Kashim Shettima has disclosed plans by the Federal Government to recapitalize and restructure the Bank of Agriculture (BOA) to bolster Nigeria’s agricultural sector and achieve national food security.

This is just as the Federal Government has officially transferred operations of the Zungeru Hydroelectric Power Plant to Penstock Limited.

The move is expected to boost Nigeria’s power generation capacity and contribute significantly to meeting the country’s growing energy demands.

This was disclosed on Tuesday during the first meeting of the National Council on Privatisation (NCP) for the year 2024 at the Presidential Villa, Abuja.

Speaking at the meeting, Vice President Shettima noted the potential of BOA to play a central role in achieving national food security, citing its extensive branch network across all senatorial