General
Nigeria Can’t Meet Annual Consumption of 1.6 billion Litres of Milk—VP
By Adedapo Adesanya
Nigeria has inaugurated the National Dairy Policy to catalyse development in the livestock and dairy sectors to meet the annual consumption of 1.6 billion litres of milk.
The policy, unveiled on Tuesday in Abuja by the Vice President, Mr Kashim Shettima, aims to achieve sustainable diversification of the national economy, a key objective of its National Development Plan (2021-2025) and cut down on Nigeria’s import dependency.
The document was designed to serve as a roadmap for energising the dairy industry over the coming years following consultations and engagements with key stakeholders who shared the vision of a productive and globally competitive dairy sector in Nigeria.
While unveiling the document, Mr Shettima said milk was not a staple but a cornerstone of Nigeria’s nutritional security and economic development, noting that the theme of the 2024 Milk Day, Harnessing the Nutrition and Investment Opportunities in a Sustainable Dairy Value Chain, was particularly significant.
Represented by his Senior Special Assistant on Agribusiness, Mr Kingsley Uzoma, the VP said since its inception, the benefits of milk and dairy products had been actively promoted worldwide, highlighting how dairy supported the livelihoods of one billion people.
“Dairy is an accessible, affordable, and nutrient-dense food, essential for balanced diets across the world. Billions of people consume milk and dairy products daily, not only as a vital source of nutrition but also as a means of livelihood for farmers, processors, shopkeepers, and other stakeholders in the dairy value chain.
“It is our collective responsibility to ensure that consumers, industry and governments have up-to-date information on how milk and dairy products contribute to human nutrition.
“Also how dairy-industry development can best increase food security and alleviate poverty in Nigeria,” he submitted.
Mr Shettima said dairy farming presented significant opportunities for economic development and youth employment.
“However, these opportunities do not come without challenges. Our livestock farmers often face issues such as inadequate feed for their animals, conflicts over grazing lands, and the adverse effects of climate change.”
He said that these challenges were compounded by violent conflicts between farmers and cattle herdsmen over land use.
“A situation exacerbated by increasing droughts and the pressing need for sustainable solutions. Recognising these challenges, the Federal Government is launching the National Dairy Policy intending to transform the dairy industry in Nigeria,” the country’s number two citizen stated.
Mr Shettima said the policy would address key obstacles such as the lack of modern global best practices for cross-breeding and calving, high costs of milk and poor transportation infrastructure among others.
“Currently, Nigeria spends $1.5 billion annually on importing dairy products due to a production deficit. Nigerians consume an average of 1.6 billion litres of milk and its products but domestic production is insufficient to meet this demand.
“President Bola Ahmed Tinubu’s administration is determined to achieve national production security, with the longer term goal of eventually exporting dairy products to other African countries under the African Continental Free Trade Agreement (AfCFTA).”
He said that implementation of the policy would ensure improved dairy farming practices, increased investment in dairy processing and preservation, evidence-based policy implementation, and enhanced collaboration.
Mr Shettima said that it would also enable ease of business for the dairy industry, fostering public-private partnerships, embracing technology and innovation, and empowering women-friendly and youth-centric business models.
“Its implementation will promote good animal health practices, and monitoring and evaluating progress,” he said.
On his part, the Minister of State for Agriculture and Food Security, Mr Aliyu Abdullahi, said that the national dairy policy was in line with the federal government’s Renewed Hope Agenda to reposition the livestock sector.
He said that the document would create an enabling and supportive environment for growth in the dairy sector, adding that there was potential in the dairy industry.
He noted that with consistency and steadfastness to the policy’s implementation, Nigeria would before long become self-sufficient in milk and dairy products.
By Adedapo Adesanya
Nigeria’s electricity distribution companies (DisCos) generated N196.13 billion in revenue in March 2026, despite billing customers a total of N246.43 billion during the month, according to the latest commercial performance report released by the Nigerian Electricity Regulatory Commission (NERC).
The figure represents a slight decline from the N196.68 billion collected in February, highlighting persistent challenges in revenue recovery across the power distribution segment, even as energy supplied to the grid continued to improve.
NERC’s March 2026 fact sheet showed that electricity billing rose by 1.71 per cent from N242.29 billion recorded in February, reflecting increased energy deliveries and customer charges. However, collection efficiency declined to 79.59 per cent from 81.17 per cent in the previous month, indicating that a significant portion of billed revenue remained uncollected.
The regulator disclosed that DisCos received 293.76 million kilowatt-hours of electricity during the review period, representing a 6.02 per cent increase compared to February. The development suggests a modest improvement in power availability across the distribution network.
Despite the increase in energy supplied, revenue recovery remains uneven across the industry. NERC reported that the average approved tariff for March stood at N124.30 per kilowatt-hour, while actual collections averaged ₦100.75 per kilowatt-hour, resulting in an overall revenue recovery efficiency of 81.05 per cent.
Among the eleven DisCos, Ikeja Electric emerged as the strongest performer, posting a revenue recovery efficiency of 99.30 per cent. Eko Electricity Distribution Company followed with 95.73 per cent, while Benin DisCo recorded 85.18 per cent.
At the lower end of the performance table, Kaduna Electric recorded the weakest recovery rate at 35.65 per cent. Jos DisCo and Yola DisCo also struggled, achieving recovery efficiencies of 53.53 per cent and 58.58 per cent, respectively.
Ikeja Electric also led in collection efficiency with 96.38 per cent, ahead of Benin DisCo at 90.97 per cent and Eko DisCo at 87.68 per cent. Kaduna, Jos and Yola remained the poorest performers in this category, underlining the persistent commercial and operational challenges facing power distributors in parts of northern Nigeria.
In terms of billing efficiency, Eko DisCo ranked first with 92.30 per cent, followed by Port Harcourt DisCo at 90.36 per cent and Ikeja Electric at 87.76 per cent. Yola DisCo recorded the lowest billing efficiency at 58.68 per cent.
The latest figures underscore the mixed realities within Nigeria’s power sector. While electricity supply and customer billing continue to improve, revenue collection remains a major obstacle to the financial sustainability of the industry.
Analysts note that stronger metering penetration, improved customer confidence, reduction in energy theft and more efficient collection systems will be critical if DisCos are to close the widening gap between electricity supplied, billed revenue and actual collections.
The March performance report comes as regulators and industry stakeholders intensify efforts to strengthen the commercial viability of the electricity market, attract fresh investment and improve service delivery across the country.
By Adedapo Adesanya
Interswitch has entered into a partnership with Geneva-headquartered banking software provider Temenos to offer managed banking services to financial institutions across the continent, deepening its push into banking technology.
The partnership will see Interswitch adopt Temenos’ banking technology across core banking, digital banking, payments, wealth management, and financial crime management.
This will enable the firm to provide cloud-hosted and on-premises managed services to lenders on the continent. The service will initially target Nigeria, Ghana, Côte d’Ivoire, Kenya, and other African markets.
“This is a pivotal moment for Interswitch as we accelerate our expansion beyond payments and reimagine digital banking for Africa,” Mr Jonah Adams, managing director for Digital Infrastructure and Managed Services at Interswitch, said in a statement.
By combining Temenos’ software with its existing footprint across the continent, Interswitch is positioning itself as a technology partner that can help banks upgrade critical systems without having to manage the complexity of large-scale technology deployments.
“By adopting Temenos’ cloud-native, composable platform, Interswitch gains the flexibility and scalability to accelerate its next phase of growth and deliver banking services that meet the needs of African markets,” Mr Adams added.
For Temenos, the deal strengthens its presence in Africa through a partner with deep relationships across the banking sector. It lost one of its banking customers, Sterling Bank, in 2024 after the tier-2 Nigerian bank switched to SEABaaS, a new custom-built core banking application.
“Interswitch is an important new customer and partner for Temenos in Africa,” said Mr William Moroney, Chief Revenue Officer at Temenos. “Interswitch’s strong presence across the continent also extends our reach and further strengthens our ecosystem and partner network.”
Founded in 2002, Interswitch built its reputation as one of Africa’s largest payments companies through products such as Quickteller and Verve, its domestic card scheme.
By Adedapo Adesanya
Tropical General Investments (TGI) Group and Singapore-based Wilmar International have agreed to combine their Nigeria and Republic of Benin operations into a 50:50 joint venture aimed at building a dominant integrated food and agribusiness platform across West Africa, targeting a market estimated at $12 billion.
The proposed merger will consolidate operations across several value chains, including agriculture, oil palm plantations, edible oils, edible nuts, rice, food manufacturing, and distribution, creating one of the region’s largest end-to-end food production and supply chains.
Under the arrangement, both firms will integrate their complementary strengths, with Wilmar contributing global expertise in palm oil, speciality fats, and large-scale agribusiness operations, while TGI brings established local manufacturing capacity, consumer brands, and an extensive distribution network across Nigeria and neighbouring markets.
Chairman and Chief Executive Officer of Wilmar International, Mr Kuok Hong, said the partnership would enhance both firms’ ability to serve Africa’s expanding consumer base, describing Nigeria and Benin as strategic growth markets.
“For more than four decades, TGI Group has built a leading position in Nigerian food manufacturing and distribution. This partnership will leverage Wilmar’s global scale and expertise as well as TGI’s local knowledge to deliver innovative food solutions across Africa,” added TGI Group founder and chairman, Mr Cornelis Vink.
On his part, Vice Chairman of TGI Group, Mr Farouk Gumel, said the deal reflects confidence in Nigeria’s long-term economic prospects, adding that it would deepen domestic value addition, strengthen food security, support smallholder farmers, and create jobs.
Adding his input, Wilmar’s Africa Head, Mr Santosh Pillai, described the transaction as a strategic fit, noting that the combined entity would have the scale, local insight, and operational depth needed to better serve consumers in the region.
The companies said the transaction is expected to be completed in the 2026 financial year, subject to regulatory approvals and other customary conditions.
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