To boost food security, the Federal Government is set to recapitalise the Bank of Agriculture before March. Minister of Agriculture and Food Security, Senator Abubakar Kyari, said the bank, which has branches in 109 senatorial districts, will be positioned to provide smallholder farmers with capital. Speaking during a briefing at the State House, Abuja yesterday, he said reliance on government budgets alone is insufficient to support agriculture. The ministry is engaging development partners, including the International Fund for Agricultural Development (IFAD), to expand funding opportunities. Kyari said: “Within the first quarter of this year, you will see a report that will outline the reorganisation and the recapitalisation of the Bank of Agriculture. “BoA has branches in all the 109 senatorial districts and can reach out easily to those farmers. Smallholder farmer lacks capital. So we have written to some banks. “We are also reorganising BoA to support what the government is doing in the sense of public financing in the budgets and what have you. “Budget alone cannot support agriculture. We’re happy with development partners, including IFAD, a united nation Rome-based organisation.”

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