By Steve Ogidan After 53 years of existence, Nigeria’s Bank of Agriculture (BOA) stands at a critical crossroads. Once envisioned as the financial backbone of our agricultural revolution, the institution has been hampered by poor management, technological backwardness, and a workforce ill-equipped for modern agricultural financing. As the Federal Government grapples with funding agricultural development amid growing concerns about food security, the recent appointment of a new Managing Director offers a glimmer of hope for this vital institution. The new leadership must implement a comprehensive turnaround strategy if the BOA is to fulfill its mandate of supporting Nigeria’s agricultural sector and contributing meaningfully to our national food security objectives. The following eight-point agenda represents the essential steps needed for this transformation: First, a thorough diagnostic assessment of the bank’s operations, finances, and organizational structure is imperative. The new management must understand the depth of the challenges before charting a course forward. This should include a detailed review of the loan portfolio, with particular attention to non-performing loans that have drained the institution’s resources for decades. Second, governance and management structures require a complete overhaul. The endemic corruption and inefficiency that have plagued the BOA cannot be addressed without establishing transparent, accountable systems with clear reporting lines and performance metrics. The era of treating the bank as a political patronage machine must end if we hope to see any meaningful change. Third, technology modernization must be prioritized. In an age where financial services are increasingly digital, the BOA cannot continue operating with obsolete systems. Implementing a modern core banking system, mobile banking solutions, and digital platforms for loan applications would dramatically improve efficiency and reach. More importantly, integrating agricultural intelligence systems—including geospatial technology for farm mapping and climate monitoring—would revolutionize the bank’s approach to agricultural financing. Fourth, the human capital challenge must be addressed head-on. The existing workforce lacks the specialized skills needed for agricultural finance in the 21st century. A combination of targeted training programs and strategic recruitment of agricultural finance specialists, risk managers, and digital banking experts is essential. Knowledge partnerships with agricultural universities and research institutions should complement these efforts. Fifth, financial restructuring cannot be avoided. The Federal Government must commit to recapitalizing the bank while implementing aggressive recovery of non-performing loans. Partnerships with international development finance institutions and the adoption of innovative funding models, including blended finance mechanisms and green bonds for climate-smart agriculture, should be explored. Sixth, product innovation and market penetration strategies must be developed to reach underserved agricultural communities. Specialized financial products for different segments of the agricultural value chain, insurance-linked credit products, and value chain financing models would help connect farmers to markets and improve their financial resilience. Seventh, strategic partnerships with key stakeholders in the agricultural ecosystem—including aggregators, processors, off-takers, fintech companies, and agricultural extension services—would enhance the bank’s impact and reach. State governments must also be engaged as partners in agricultural development programs. Lastly, a robust monitoring and evaluation framework is essential to track progress and measure impact. Regular reporting mechanisms, impact assessments on food security contributions, and a sustainability scorecard would ensure accountability and guide course corrections as needed. The implementation of this agenda should be phased, with foundation-building activities in the first six months, transformation initiatives in the following year, and successful interventions nationwide scaling in the final phase. Some quick wins—such as specialized credit programs for smallholder farmers, mobile banking solutions in key agricultural states, and partnerships with major value chain actors—should be prioritized to demonstrate early impact. Nigeria’s agricultural potential remains largely untapped, and food security remains a national challenge. The Bank of Agriculture, if properly reformed and repositioned, can play a pivotal role in addressing these issues. However, this will require political will, adequate resources, and unwavering stakeholder commitment. The new BOA leadership has been handed both a tremendous responsibility and an extraordinary opportunity. Their success or failure will have far-reaching implications for millions of Nigerian farmers and, ultimately, for our nation’s food security. The time for bold, decisive action is now. • Dr. Ogidan, mni, is the Managing Director/CEO of Successory Nigeria Ltd, a leading management consulting firm specializing in institutional transformation and agricultural development.