By John Umeh
President Bola Ahmed Tinubu has appointed Mohammed Babangida, the son of former military Head of State, General Ibrahim Badamasi Babangida (IBB), as the new Managing Director and Chief Executive Officer of the newly restructured Bank of Agriculture (BoA). The appointment, which is part of ongoing efforts to reposition Nigeria’s agricultural finance sector, has generated wide interest across political and economic circles.
The BoA, which had been plagued by years of inefficiency, undercapitalization, and management challenges, is currently undergoing a major overhaul under Tinubu’s economic reform agenda. The President’s choice of Mohammed Babangida is seen by some as a strategic move to inject a mix of legacy, experience, and renewed trust into the agricultural banking system, while others have raised concerns about political favoritism and elite recycling.
A graduate of American University in Washington, D.C., and an experienced businessman with a background in finance and agribusiness, Mohammed Babangida is expected to bring a fresh perspective to the bank’s operations. He is reportedly tasked with revamping the bank’s loan disbursement processes, boosting smallholder farmers’ access to credit, and restoring the institution’s relevance as a critical vehicle for rural development and food security.
Presidency sources describe the appointment as a “merit-based decision aimed at fast-tracking agricultural transformation,” citing Mohammed’s track record in the private sector. The Minister of Agriculture, Abubakar Kyari, has also welcomed the decision, stating that the restructuring of the BoA is central to achieving the administration’s goal of reducing food import dependence and promoting home-grown solutions to food insecurity.
Reactions have been mixed. Supporters argue that Mohammed Babangida’s elite background and access to high-level networks could attract new investments and donor partnerships. Critics, however, question whether his appointment reflects a true break from past political patronage or simply reinforces the dominance of Nigeria’s ruling elite in strategic national institutions.
As Nigeria battles rising food prices, insecurity in farming communities, and climate-related challenges, the performance of the restructured Bank of Agriculture under its new leadership will be closely watched. All eyes are now on Mohammed Babangida to deliver results in what many see as one of the most critical sectors for national stability and economic growth.
