Economy
Jigawa To Export Goats Soon
By Dipo Olowookere
The Jigawa State government has said it is targeting 18,000 women in the state for its goat multiplication farming programme.
The state government said it hopes this scheme would be a good source of foreign exchange earnings for its economy and as well take out of poverty in the state.
The goat multiplication farming initiative was introduced by Governor Muhammed Badaru Abubakar to wipe out poverty among women in the state.
He said such is practised in many African, Asian and South American countries.
According to the state government, it is targeting about 18,000 women in the 287 wards from the 27 local government areas of Jigawa.
The scheme, it said, was captured in the 2016 budget to rid the state of extreme poverty using agriculture.
Governor Abubakar explained in an interview with Vanguard that livestock development is an area his administration targeted to diversify Jigawa’s economy, improve women participation in economic activities and rid the state of extreme poverty especially amongst women.
He admitted that, “Our state has one of the highest levels of poverty especially amongst women and this is something we must stop,” saying that “The easiest and most effective way [to eradicate poverty] is through the goat multiplication programme which we borrowed from Botswana and South Africa, where millions of women were removed out of poverty.”
Mr Abubakar disclosed that millions of Naira was invested to buy thousands of goats so that, through a revolving scheme, every woman in the state that requires economic independence will be assisted to fulfil her dreams.
“We chose goats because of their high profit in terms of reselling value and capacity and reproductive frequency as well,” he said.
According to him, his administration viewed women as a core group that could be used to tackle poverty.
As part of this scheme, one million livestock in the state were vaccinated, the Governor’s Special Assistant on Community Services, Alhaji Hamza Muhammed Hadejia, said.
He explained that the idea behind the scheme was to provide millions of women and youth the opportunity to rid them out of poverty.
He said a monitoring mechanism had been put in place to supervise the scheme and ensure sustainability and repayment so that others can benefit. Under the programme, a marketing plan has been put in place to support the marketing of the goats.
“We have set up a committee that is working with the over 18,000 beneficiaries so that the output of the multiplication project will be marketed and sold at optimum profit,” Mr Hadejia said.
Already, the Governor’s aide stated, the Saudi Arabian government mass animal purchase scheme is being explored by the committee so that, in the next few years, the beneficiaries will be able to export their goats and also sell locally.
“It is estimated that by end of the year, these 18,000 distributed goats will multiply to over 100,000 and will form a large resources for both the beneficiaries as well as revenue for the state government,” he added.
“In short, millions of people, including the beneficiaries and their families, in few years to come, will be taken out of poverty”.
While the programme attracts wide acceptance amongst women in the state, the opposition described it as a joke and a pointer that the administration has taken Jigawa backward after the former government built an airport that “launched the state into the elite comity of states in the country”.
To this, Governor Abubakar said, “Given the option of a plane ride to Abuja and back from the `wonder airport’ at N50,000 and three goats for N15,000, our rural women opted for the latter.”
Meanwhile, some of the beneficiaries of the programme have lauded it, saying it is a welcomed development.
Aishatu Jibrin, a 22-year-old mother of four and a beneficiary of the scheme, who lives in Kudai, a suburb of Dutse, the state capital, said, “I have been knitting since when I was 12 and I have continued even after marriage but the impact on my livelihood and that that of my family has not changed due to exploitation by middlemen.
“I was so happy when my name appeared among pioneer beneficiaries of the scheme and the day I collected my three goats, two she goats and one male, it was the beginning of a dream which I hope will transform my life and that of my family in the next one year.”
Already, Aishatu’s three goats have multiplied and she’s hopeful that, by end of the end year, her backyard will be full of goats.
“My hope is to sell [the goats] by the end of year so that I can buy many sewing machines and open a fashion business in my village,” she said.
Another resident of the state, Indo Dahiru, a 32-year-old mother of four, who lives in Limawa, narrated that, “When I was given the three goats last year, I was apprehensive that they may die because I had never engaged in goat or animal husbandry before. But as I got used to it, I saw them begin to multiply. I became more attracted and began to pay more attention to them.”
“I was never a contributor to the upkeep of the family because I was not involved in any trade or business.
“However, as I became engaged in this project, I can now say, without the fear of being contradicted, that my life and that of my family has changed.
“My hope is to be able to generate enough from the business and afford to pay for hajj.”
Additional information from http://www.vanguardngr.com/2016/08/jigawa-soon-export-goat/
By Adedapo Adesanya
The Senate Committee on Banking, Insurance and Other Financial Institutions has called for stronger collaboration among financial sector regulators and other stakeholders to strengthen Nigeria’s financial system and support sustainable economic growth.
The committee made the call during an expanded stakeholders’ engagement in Lagos, attended by the leadership of the Central Bank of Nigeria (CBN), Nigeria Deposit Insurance Corporation (NDIC), Asset Management Corporation of Nigeria (AMCON), National Insurance Commission (NAICOM) and Nigeria Export-Import Bank (NEXIM), among other industry stakeholders and financial experts.
Chairman of the committee, Mr Adetokunbo Abiru (Lagos East), who was represented by Mr Osita Izunaso (Imo West), said stronger legislative reforms and regulatory collaboration were necessary to reposition Nigeria’s financial architecture for long-term economic prosperity.
Mr Abiru said the financial sector remained critical to investment, job creation, business expansion and macroeconomic stability, stressing that its ability to mobilise savings, channel credit to productive sectors, facilitate investment and manage risks was fundamental to sustainable economic growth.
He said the current economic realities required closer collaboration between the legislature and financial regulators, noting that challenges confronting the sector were interconnected and could not be effectively addressed through isolated interventions.
The lawmaker identified inflationary pressures, global economic uncertainties, cybersecurity threats, low insurance penetration and the need to diversify Nigeria’s export base as some of the challenges requiring coordinated policy responses.
He said the engagement was aimed at generating practical solutions to strengthen the country’s financial architecture and support sustainable economic growth.
According to him, monetary policy, financial safety nets, banking institutions, the insurance industry and export finance were interdependent components of a stable financial system and must therefore be strengthened collectively.
The Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Mr Olusegun Ayo Omosehin, said the Nigeria Insurance Industry Reform Act (NIIRA) 2025 had contributed significantly to stabilising and repositioning the insurance sector.
Mr Omosehin disclosed that 43 insurance companies had successfully recapitalised, describing the development as a major milestone for the industry.
He commended Abiru and members of the committee for their role in advancing insurance sector reforms and urged the House of Representatives to expedite action on the relevant insurance reform bill to enable it to receive presidential assent and become operational.
Representatives of the CBN Governor and the Managing Directors of AMCON, NEXIM and NDIC also commended the Senate committee for its oversight and legislative support, saying its interventions had strengthened the agencies’ capacity to discharge their statutory mandates.
The engagement, held under the theme, Strengthening Financial System Architecture for Sustainable Economic Growth and Stability in Nigeria, also featured presentations by Professor Uche Uwaleke, President of Capital Market Academics of Nigeria (CMAN); Professor Biodun Adedipe, Chief Consultant, B. Adedipe Associates Limited; and Dr Tilewa Adebajo, Chief Executive Officer of CFG Advisory.
The experts presented policy recommendations on key issues affecting Nigeria’s financial system, with emphasis on financial stability, investment and sustainable economic growth.
Mr Abiru said the Senate would continue to engage financial regulators and other stakeholders to deepen financial inclusion, strengthen public confidence in financial institutions and improve regulatory effectiveness.
He said the broader objective was to position Nigeria’s financial system to compete more effectively in the global economy while remaining resilient and responsive to the country’s economic transformation agenda.
By Aduragbemi Omiyale
The first six months of 2026 were not too good for Caverton Offshore Support Group Plc, as it suffered an N8.7 billion loss compared with the N2.1 billion net profit it recorded in the same period of 2025.
This occurred as the company posted a 10.91 per cent decline in earnings between January and June 2026, according to its financial statements for the period ended June 30, 2026.
Analysis of the results showed that the revenue generated in the period under review stood at N14.7 billion versus the N16.5 billion printed in the corresponding period of last year.
Business Post observed that the revenue was negatively impacted by a decline in earnings from helicopter charter and helicopter/airplane contract.
Further analysis of the financial results indicated that operating profit went down by 22.34 per cent to N7.3 billion from N9.4 billion, with administrative expenses jumping to N7.9 billion from N4.7 billion.
But Caverton believes things will get better, noting that the clearest driver of the recovery is Caverton Marine.
Through its relationship with Stena Bulk, one of the world’s leading tanker operators, the organisation now participates in three Suezmax tankers trading a rare source of foreign-currency revenue for a Nigerian-listed company.
It noted that the relationship is being deepened through Unity Shipping Worldwide, a joint venture with the Nigerian National Petroleum Company (NNPC) Limited and Stena Bulk that pairs the state-owned oil firm’s national position and Stena Bulk’s fleet with Caverton’s indigenous operating platform
Closer to home, the firm’s OMIBUS platform, developed with Shanghai-based electric-propulsion OEM Explomar, is bringing battery-electric passenger ferries to Lagos waterways. A prototype is already in service, and Caverton holds a firm order from Lagos State for ten vessels, an early-mover position in clean inland-water transport that the group believes can be replicated across other states as the fleet enters service and ferry operations mature into steady, recurring revenue.
In aviation, the institution said the recovery is anchored on its partnership with NHV, a Belgium-based international helicopter operator, with the restructuring of charter operations targeted for the second half of 2026.
“The first half of the year tested us, but the direction of travel is now visible in the numbers.
“Quarter on quarter, we are working to build up our revenue to narrow losses. Our marine business units, from international tankers to electric ferries, are scaling.
“Meanwhile, our aviation relaunch is on track for the second half, and our cost base is tighter than it has been in years. There is distance still to travel, but Caverton is moving from stabilisation to recovery, and we intend to finish 2026 with that momentum intact,” the chief executive of Caverton, Mr Olabode Makanjuola, stated.
By Adedapo Adesanya
The Nigeria Revenue Service (NRS) and the Joint Revenue Board (JRB) have issued new guidelines clarifying the taxation of virtual assets in Nigeria.
The guidelines provide an administrative framework for the taxation of virtual assets and specify the tax obligations of individuals and businesses operating in the sector.
According to a public notice issued by the two agencies, the framework covers registration, reporting and record-keeping requirements, valuation principles and the tax treatment of virtual asset transactions.
It applies to taxpayers, Virtual Asset Service Providers (VASPs), peer-to-peer (P2P) marketplace operators, tax practitioners and other persons engaged in virtual asset-related activities.
The NRS and JRB said the guidelines were developed in line with the provisions of the Nigeria Tax Act 2025 and the Nigeria Tax Administration Act 2025.
The two bodies said the release was aimed at providing clarity, certainty and consistency in the administration of Nigeria’s tax laws as the country’s virtual asset ecosystem continues to evolve.
The agencies added that the framework would promote voluntary compliance, enhance transparency and support the development of a fair and efficient tax system for digital asset transactions.
They urged all affected taxpayers and stakeholders to familiarise themselves with the guidelines and ensure compliance with the applicable tax obligations.
The guidelines are available on the official websites of the two agencies.
