The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has inaugurated a brand new Board of the Agricultural Credit score Assure Scheme Fund (ACGSF), reinforcing the apex bank’s dedication to deepening entry to finance and boosting productiveness in Nigeria’s agricultural sector.
The event was disclosed in an announcement launched on X (previously Twitter) by the CBN on Wednesday.
In keeping with the Bank, the reconstitution of the Board is aimed toward strengthening collaboration amongst stakeholders and enhancing the effectiveness of agricultural credit score supply.
Cardoso highlights ACGSF’s strategic position
Talking on the inauguration, Cardoso underscored the Scheme’s longstanding contribution to agricultural growth, noting its position in de-risking agricultural lending since 1977.
He referred to as for a “extra revolutionary, inclusive and technology-driven strategy to help farmers, particularly ladies and youth,” because the nation seeks to modernise its agricultural worth chains.
The assertion famous that “with compensation charges of 90–98%, the Scheme continues to point out sturdy influence,” highlighting the resilience and effectiveness of the ACGSF over the many years.
New board to drive innovation and monitoring
The newly inaugurated Board is chaired by Dr. Olusegun Oshin and is predicted to strengthen collaboration, enhance monitoring mechanisms, and introduce real-time monitoring methods to reinforce productiveness and rural livelihoods.
Members of the Board embody Prof. Murtala Sabo Sagagi, Dr. Nneka Onyeali-Ikpe, Engr. Frank Satumari Kudla, Ms. Olusola Sowemimo, Ms. Adetoun Abbi-Olaniyan, and Mr. Wondi Philip Ndanusa.
Deputy Governors of the CBN, departmental administrators, and different senior officers of the Bank had been current on the inauguration ceremony.
Renewed push for agricultural reforms
The event comes days after President Bola Tinubu constituted the Boards of the Bank of Agriculture (BOA) and the Nationwide Agricultural Improvement Fund (NADF) as a part of broader efforts to reposition Nigeria’s agricultural sector for greater output and sustainability.
In keeping with an announcement by the President’s Particular Adviser on Info and Technique, Bayo Onanuga, Tinubu confirmed the appointment of Muhammad Babangida as Chairman and Ayo Sotinrin as Managing Director of the Bank of Agriculture.
The BOA Government Administrators embody Fatima Garba (Sokoto), Ka’amuna Ibrahim Khadi (Borno), and Hakeem Oluwatosin Salami (Kwara), whereas the Non-Government Administrators are Aminu Malami Mohammed (North East), Charles Amuchienwa (South East), Oladejo Odunuga (South West), Rabiu Idris Funtua (North West), and Kochi Donald Iorgyer (North Central).
For the NADF, President Tinubu appointed Muhammad Abu Ibrahim as Government Secretary and Chief Government Officer, and Mallam Bello Maccido as Chairman.
Different Board members embody Dr. Nelson Henry Essien (Akwa Ibom), Amina Ahmed Habib (Jigawa), Akinyinka Olufela Akinnola (Ondo), Hassan Tanimu Musa Usman (Borno), Lufer Samson Orkar (Benue), and Felix Achibiri (Imo).
What you need to know
Pushed by sturdy agricultural and industrial progress, Nigeria’s GDP rose by 3.98% in Q3 2025.
- In keeping with the Nationwide Bureau of Statistics (NBS), agriculture grew by 3.79%, an enchancment from the two.55% recorded within the corresponding quarter of 2024.
- The sector grew by 3.18% in nominal phrases in Q3 2025, though this was 14.87 proportion factors decrease than Q3 2024. In comparison with the earlier quarter, progress improved by 1.34 proportion factors.
- Crop manufacturing remained dominant, accounting for 65.99% of the sector’s complete nominal worth.
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