Economy
African Governments Meet to Discuss Sustainable Future of Livestock
By Modupe Gbadeyanka
The Africa Sustainable Livestock 2050 (ASL2050) has launched in Addis Ababa and it is to encourage governments to think beyond livestock today, for the people of tomorrow.
ASL2050 is a cross-sectoral initiative analysing the impact of a growing livestock sector on public health, the environment, and livelihoods.
Government ministers and representatives from Burkina Faso, Egypt, Ethiopia, Kenya, Nigeria and Uganda, the United States Agency for International Development (USAID), and the Food and Agriculture Organization of the United Nations (FAO) met today in Ethiopia to discuss the future of the livestock sector in Africa.
Ethiopian Minister of Livestock and Fishery, Professor Fekadu Beyene, explained that, “This is a wonderful opportunity to share expertise and experience between ministries and countries, with the aim of building a sustainable livestock sector in the coming decades that will enrich the lives of all our citizens.
“We are looking forward to partnering with USAID and FAO to examine our livestock systems now, and realise the potential they have for the future through the sustainable implementation of the Livestock Master Plan.”
Africa’s economy is forecast to experience significant growth in the next 20 to 30 years. As a result of rising household incomes, people will want to eat more meat, eggs and dairy products. This provides a great opportunity for growth in the livestock sector, but could also pose serious challenges for public health and environmental protection.
ASL2050 aims to facilitate a dialogue between countries, ministries, and specialists to help Africa to prepare for these changes – building the capacity to maximise benefits and minimise challenges.
“The demand for milk, meat and eggs is going to double, triple and even quadruple in some African countries in the coming decades. This is going to cause a revolution in the livestock sector,” said USAID Ethiopia Mission Director Leslie Reed. “With ASL2050, we are going to collaborate with governments to work out how to build the foundations for this change, so that African farmers and consumers will be better off. More livestock means more feed is needed, and land use will change. This presents some challenges for the environment that we need to start preparing for now.”
By facilitating a dialogue between the livestock, environment, livelihoods and public health ministries of Burkina Faso, Egypt, Ethiopia, Kenya, Nigeria and Uganda, ASL2050 will identify actions that can be taken now to ensure a sustainable and productive livestock sector, while protecting the environment and public health.
Berhe Tekola, Director of the Animal Production and Health Division of the FAO said, “Asia experienced a period of rapid economic growth from the 1970s to the early 2000s, and the livestock sector grew rapidly as a result. Unfortunately the safeguards were not in place to manage infectious disease spread and we saw the emergence of highly pathogenic avian influenza in 2003. With similar growth in the livestock sector forecast for Africa, we want to make sure we are prepared so we can prevent a similar disease emergence event in the future, and stay on track to achieve the sustainable development in Africa that we are all hoping for.”
ASL2050 will also anticipate long-term public health risks such as unexpected disease spread from livestock to humans, and identify policies or procedures to implement now that can reduce these risks in the future.
By Adedapo Adesanya
The duo of Afriland Properties Plc and Geo-Fluids Plc crashed the NASD Over-the-Counter (OTC) Securities Exchange by a marginal 0.06 per cent on Wednesday, December 11 due to profit-taking activities.
The OTC securities exchange experienced a downfall at midweek despite UBN Property Plc posting a price appreciation of 17 Kobo to close at N1.96 per share, in contrast to Tuesday’s closing price of N1.79.
Business Post reports that Afriland Properties Plc slid by N1.14 to finish at N15.80 per unit versus the preceding day’s N16.94 per unit, and Geo-Fluids Plc declined by 1 Kobo to trade at N3.92 per share compared with the N3.93 it ended a day earlier.
At the close of transactions, the market capitalisation of the bourse, which measures the total value of securities on the platform, shrank by N650 million to finish at N1.055 trillion compared with the previous day’s N1.056 trillion and the NASD Unlisted Security Index (NSI) went down by 1.86 points to wrap the session at 3,012.50 points compared with 3,014.36 points recorded in the previous session.
The alternative stock market was busy yesterday as the volume of securities traded by investors soared by 146.9 per cent to 5.9 million units from 2.4 million units, as the value of shares transacted by the market participants jumped by 360.9 per cent to N22.5 million from N4.9 million, and the number of deals increased by 50 per cent to 21 deals from 14 deals.
When the bourse closed for the day, Geo-Fluids Plc remained the most active stock by volume (year-to-date) with 1.7 billion units valued at N3.9 billion, followed by Okitipupa Plc with 752.2 million units worth N7.8 billion, and Afriland Properties Plc 297.5 million units sold for N5.3 million.
Also, Aradel Holdings Plc, which is now listed on the Nigerian Exchange (NGX) Limited after its exit from NASD, remained the most active stock by value (year-to-date) with 108.7 million units sold for N89.2 billion, trailed by Okitipupa Plc with 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with 297.5 million units worth N5.3 billion.
By Adedapo Adesanya
The euphoria around the recent appreciation of the Naira eased on Wednesday, December 11 after its value shrank against the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) by N5.23 or 0.3 per cent to N1,547.50/$1 from the N1,542.27/$1 it was valued on Tuesday.
It was observed that spectators’ activities may have triggered the weakening of the local currency in the official market at midweek as they tried to fight back and ensure the value of funds in foreign currencies strengthened.
The domestic currency was regaining its footing after the Central Bank of Nigeria (CBN) launched an Electronic Foreign Exchange Matching System (EFEMS) platform to tackle speculation and improve transparency in Nigeria’s FX market.
At midweek, the Nigerian currency depreciated against the Pound Sterling by N3.56 to close at N1,958.68/£1 compared with the preceding day’s N1,955.12/£1 and against the Euro, it slumped by 34 Kobo to trade at N1,612.66/€1, in contrast to the previous session’s N1,613.00/€1.
As for the black market segment, the Naira lost N45 against the American currency during the session to quote at N1,670/$1 compared with the N1,625/$1 it was traded a day earlier.
A look at the cryptocurrency market showed a recovery following profit-taking as the US Consumer Price Index report matched economist forecasts.
The news was enough to convince traders that the Federal Reserve is certain to trim its benchmark fed funds rate another 25 basis points at its meeting next week.
The move also saw Bitcoin (BTC), the most valued coin, return to the $100,000 mark as it added a 2.9 per cent gain and sold for $100,566.12.
The biggest gainer was Cardano (ADA), which jumped by 15.00 per cent to trade at $1.16, as Litecoin (LTC) appreciated by 10.4 per cent to sell for $121.76, and Ethereum (ETH) surged by 7.0 per cent to $3,929.30, while Dogecoin (DOGE) recorded a 6.7 per cent growth to finish at $0.4181.
Further, Binance Coin (BNB) went up by 5.2 per cent to $716.72, Solana (SOL) expanded by 4.6 per cent to $229.77, and Ripple (XRP) increased by 4.2 per cent to $2.43, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 apiece.
By Aduragbemi Omiyale
The Dangote Refinery located in the Lekki area of Lagos State has made its first export of premium motor spirit (PMS) just three months after it commenced the production of petrol.
In September 2024, the refinery produced its first petrol and began loading to the Nigerian National Petroleum Company (NNPC) on September 15.
However, due to some issues, the facility has not been able to flood the local market with its product, forcing it to look elsewhere.
In a landmark move for regional energy integration, Dangote Refinery has partnered with Neptune Oil to take its petrol to neighbouring Cameroon.
Neptune Oil is a leading energy company in Cameroon which provides reliable and sustainable energy solutions.
Dangote Refinery said this development showcases its ability to meet domestic needs and position itself as a key player in the regional energy market, adding that it represents a significant step forward in accessing high-quality and locally sourced petroleum products for Cameroon.
“This first export of PMS to Cameroon is a tangible demonstration of our vision for a united and energy-independent Africa.
“With this development, we are laying the foundation for a future where African resources are refined and exchanged within the continent for the benefit of our people,” the owner of Dangote Refinery, Mr Aliko Dangote, said.
His counterpart at Neptune Oil, Mr Antoine Ndzengue, said, “This partnership with Dangote Refinery marks a turning point for Cameroon.
“By becoming the first importer of petroleum products from this world-class refinery, we are bolstering our country’s energy security and supporting local economic development.
“This initial supply, executed without international intermediaries, reflects our commitment to serving our markets independently and efficiently.”
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