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 Modupe Gbadeyanka
The Economic and Financial Crimes Commission (EFCC) has explained why it initiated a move to freeze the bank account of the Osun State government.
Earlier on Wednesday, the Governor of Osun State, Mr Ademola Adeleke, claimed that the anti-money laundering agency asked one of its bankers, First Bank, not to release funds to the state government.
According to the Governor, this was part of the strategies to frustrate his administration ahead of the August 15, 2026, governorship election in the state.
Reacting to the issue on Wednesday night, the EFCC, in a statement, said it has been investigating the state government since March 2026 over an alleged “fraudulent handling of Ecology Funds, Intervention Funds and Federal Account Allocation Committee (FAAC) account to the tune of N11.0 billion.
The organisation noted that some officials of the state government, especially the Accountant General of the State, have had interview sessions with investigators of the EFCC.
“These ongoing investigations of the state government would not have warranted any placement of Post No Debit order on its account but for the precipitate and unwarranted movement of funds from the accounts to different suspicious accounts since August 2, 2026.
“The commission noticed huge transfers of funds into different corporate entities and had to swiftly halt the trend by freezing the accounts from which such heavy funds are being moved,” parts of the statement said.
In the disclosure, the agency noted that its preventive mandate is a public-inclined framework of safeguarding public funds, assets and resources, stressing that it cannot “watch idly while a state government’s account is being pillaged.”
“While the commission is fully aware of the impending governorship election in Osun State, it has a responsibility to act in defence of the sanctity of the funds of the state. It will be uncharitable for the commission to allow an excuse of an upcoming election to fold its arms to perform its legally-assigned functions,” it pointed out.
The EFCC disclosed that it is “keeping watch over the finances of other states like Osun State. Many of these states are on the investigative radar of the commission to ensure accountability and probity. The commission has always pointed out that it is non-partisan and non-sectarian but always working in the overall interests of Nigerians. The Osun State government account was frozen to save public funds from being looted.”
The organisation urged the public “to ignore false narratives and deliberate demonisation of the works of the EFCC. The interests of all Nigerians are greater and will always be protected by the commission.”
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has launched a mobile application designed to monitor fuel consumption patterns in real time across retail outlets nationwide.
The NMDPRA, established under the Petroleum Industry Act (PIA) 2021, is responsible for the technical and commercial regulation of Nigeria’s midstream and downstream petroleum operations. The deployment of the mobile application aligns with the authority’s broader efforts to leverage technology to improve regulatory compliance and strengthen accountability.
The pilot phase of the project began on August 1 in Abuja and its six Area Councils, the authority said in a statement published on X.
As part of the rollout, the Executive Director for Distribution Systems, Storage and Retailing Infrastructure (DSSRI), Mr Ogbugo Ukoha, led a team alongside officials from the Abuja Regional Office to assess the readiness and operational performance of the digital platform at participating retail outlets.
According to the NMDPRA, the application captures inventory and compliance data in real time, enabling regulators to monitor fuel distribution more effectively while improving operational efficiency across the sector.
The authority said the platform would generate reliable, data-driven insights to support evidence-based decision-making, strengthen national energy security planning and enhance transparency in the downstream petroleum industry.
It added that the initiative is expected to provide significant value to government, investors, operators and other stakeholders by improving access to accurate fuel consumption and compliance data.
Nigeria’s downstream petroleum sector has undergone significant changes since the deregulation of the petrol market and the removal of fuel subsidies, with regulators placing greater emphasis on data-driven supervision to ensure product availability, prevent supply disruptions and discourage sharp regional disparities in distribution.
By Modupe Gbadeyanka
No doubt, moving money among African markets remains a slow, fragmented process that relies on multiple intermediaries and prolonged settlement cycles.
To solve this issue and drive the development of stablecoin-enabled payment services for businesses across the continent, Onafriq has joined forces with a leading stablecoin infrastructure provider, Privy.
The collaboration will enable Onafriq to create and manage embedded digital asset solutions for its partners and, in time, institutional clients where regulation allows. The initial phase focuses on cross-chain stablecoin transfers and treasury and settlement workflows, creating the foundation for future cross-border payment and liquidity solutions.
Integrating Privy’s secure infrastructure enables Onafriq to build the capabilities required to support a new generation of efficient digital payment services for banks, fintechs, and mobile money operators.
This partnership is a key component of Onafriq’s broader strategy to modernise pan-African payment infrastructure, enabling secure multi-modal wallets and more efficient movement of value across the continent.
The outcome will support a range of future institutional use cases, including stablecoin-enabled settlement, treasury management and liquidity services, as it reflects Onafriq’s commitment to driving Africa’s digital transformation agenda by investing in technologies that make financial services more efficient, connected and accessible.
It was gathered that Onafriq selected Privy for its enterprise-grade infrastructure to enable the seamless integration of digital asset wallet capabilities into its products, subject to regulatory approval, and deliver a simple user experience while abstracting the complexity of blockchain technology.
“At Onafriq, we keep investing in technology that makes payments faster and more accessible. Privy gives us a building block for faster settlement and better liquidity management. As demand for digital asset services grows, our goal is to ensure Africa’s payment ecosystem benefits securely and in line with regulatory frameworks,” the Group Chief Product and Innovation Officer at Onafriq,” Mr Luke Kyohere, said.
The chief executive of Privy, Mr Henri Stern, said, “Stablecoins will play an increasingly important role in the future of global payments, but real-world adoption depends on infrastructure that is secure, scalable and simple to implement. Working with Onafriq allows us to help build that foundation across Africa and beyond.”
