Economy

Jigawa To Export Goats Soon

Published

10 years ago

28/08/2016

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/

Economy

Four Securities Erase N51.17bn from NASD Exchange

Published

2 days ago

27/06/2026

Adedapo Adesanya

By Adedapo Adesanya

Four securities weakened the NASD Over-the-Counter (OTC) Securities Exchange by 1.95 per cent on Friday, erasing N41.17 billion from the bourse, which had its market capitalisation at N2.567 trillion compared with the previous session’s N2.618 trillion.

In the same vein, the NASD Unlisted Security Index (NSI) decreased at the close of business by 85.28 points to 4,277.07 points from 4,362.32 points.

The price decliners were led by 11 Plc, which gave up N20.50 to sell at N200.50 per share compared with the preceding day’s N221.00 per share, FrieslandCampina Wamco Nigeria Plc dropped N16.94 to close at N155.20 per unit versus Thursday’s closing price of N172.14 per unit, Central Securities Clearing System (CSCS) Plc went down by N2.11 to N84.68 per share from N86.79 per share, and Afriland Properties Plc lost 11 Kobo to end at N16.74 per unit, in contrast to the N16.85 per unit it closed a day earlier.

During the trading day, the value of transactions jumped by 172.1 per cent to N29.9 million from the preceding session’s N10.9 million, and the volume of trades soared by 136.5 per cent to 955,096 units from the previous 403,901 units, while the number of deals went down by 11.4 per cent to 31 deals from 35 deals.

Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units worth N6.5 billion, and CSCS Plc with 68.6 million units sold for N4.7 billion.

GNI Plc also ended the session as the most traded stock by volume on a year-to-date basis, with 3.4 billion units exchanged for N8.4 billion, trailed by Infracredit Plc with 2.3 billion units traded for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.

Economy

Cautious Trading, Profit-taking Weaken Nigeria’s Stock Exchange by 0.66%

Published

2 days ago

27/06/2026

Dipo Olowookere

By Dipo Olowookere

The last trading session of this week on the floor of the Nigerian Exchange (NGX) Limited ended on a negative note, with a 0.66 per cent loss on Friday.

This was influenced by sustained selling pressure and cautious trading, which forced investors into profit-taking.

Data obtained by Business Post showed that the energy sector fell by 4.66 per cent, the insurance counter dipped by 2.23 per cent, the consumer goods index depreciated by 0.96 per cent, and the banking segment shed 0.28 per cent, while the industrial goods space remained unchanged.

At the close of business, the All-Share Index (ASI) of Nigeria’s stock exchange went down by 1,531.81 points to 232,049.02 points from 233,580.83 points, and the market capitalisation dropped N983 billion to settle at N148.905 trillion compared with Thursday’s N149.888 trillion.

Aradel was the worst-performing equity after it lost 10.00 per cent to close at N1,417.50. International Energy Insurance slipped by 9.95 per cent to N5.79, Trans-Nationwide Express depreciated by 9.89 per cent to N3.28, eTranzact crashed by 9.79 per cent to N14.75, and UPDC slumped by 9.72 per cent to N28.12.

The best-performing equity for the day was Universal Insurance, which gained 6.32 per cent to close at N1.01, McNichols grew by 5.52 per cent to N8.60, Linkage Assurance expanded by 4.67 per cent to N1.57, NGX Group appreciated by 4.35 per cent to N120.00, and Transcorp increased by 3.62 per cent to N41.50.

As look at the activity level indicated that investors traded 388.7 million stocks worth N18.4 billion in 44,631 deals compared with the 393.7 million stocks valued at N19.2 billion executed in 45,813 deals a day earlier, representing a decline in the trading volume, value, and number of deals by 1.27 per cent, 4.17 per cent, and 2.58 per cent, respectively.

Economy

Official FX Market Sees Naira Dip to N1,380.93/$1

Published

2 days ago

27/06/2026

Adedapo Adesanya

By Adedapo Adesanya

The Naira recorded a loss of 82 Kobo or 0.06 per cent against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Friday, June 26, exchanging at N1,380.93/$1, in contrast to the previous day’s rate of N1,380.11/$1.

Equally, the domestic currency further weakened against the Pound Sterling in the official FX market yesterday by N6.06 to settle at N1,824.90/£1 versus the preceding session’s N1,818.84/£1, and lost N10.74 on the Euro to sell at N1,577 .58/€1 versus N1,566.84/€1.

At the GTBank forex counter, the Naira depreciated against the greenback during the session by N4 to close at N1,387/$1, in contrast to Thursday’s value of N1,383/$1, and at the parallel market, it was unchanged at N1,395/$1.

Interbank FX activity among financial institutions has fluctuated amid a sharp slowdown in forex market interventions by the Central Bank of Nigeria (CBN), as it allows demand and supply to move the market.

Also, a stronger greenback has generally put significant pressure on emerging-market currencies.

Nigeria has accessed the first tranche of a proposed $5 billion derivatives financing arrangement with First Abu Dhabi Bank PJSC, the largest lender in the United Arab Emirates (UAE).

The $5 billion facility, approved by the National Assembly earlier this year, is part of the federal government’s plan to diversify external financing sources and reduce borrowing costs. Structured as a Total Return Swap with First Abu Dhabi Bank, proceeds are earmarked for refinancing debt and supporting infrastructure financing.

If the proceeds are brought into the country through the official FX market, the transaction will increase the currency reserves or Dollar liquidity.

At the cryptocurrency market, Solana (SOL) grew by 2.2 per cent to $71.92, Cardano (ADA) gained 1.1 per cent to trade at $0.1474, Ripple (XRP) also appreciated by 1.1 per cent to $1.05, Dogecoin (DOGE) expanded by 0.9 per cent to $0.0755, and Ethereum (ETH) improved by 0.4 per cent to $1,578.84.

On the flip side, TRON (TRX) slid 0.6 per cent to $0.3203, Binance Coin (BNB) slumped by 0.3 per cent to $564.33, and Bitcoin fell by 0.2 per cent to $60,219.37, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.