Economy
Kano Can Produce 30,000 Litres of Milk Per Day—KADALCU Chief
By Aduragbemi Omiyale
The chairman of the Kano Dairy and Livestock Husbandry Cooperative Union (KADALCU), Mr Usman Abdullahi Usman, has disclosed that the state has the capacity to produce about 30,000 litres of milk per day.
While speaking in a recent interview, he stated further that the dairy industry in Kano contributes nearly 24 per cent to the total milk produced locally on a national scale.
According to him, “This is because Kano State has the largest population of cattle and the relative peace level in the state has been attracting new settlers in the state as cattle farmers are trooping into Kano in larger numbers.”
“Besides, Kano also enjoys a higher population in terms of human resources. This provides a larger market for milk consumption,” he further said.
Mr Usman also disclosed that the support of a private organisation, Outspan Nigeria Limited, the dairy business unit of Olam Food Ingredient, has made the business attractive to herders.
Outspan partnered with the organisation to provide a regular and sustainable dairy market for the member farmers, thereby putting an end to roaming or open grazing among the farmers.
The company buys the raw milk from the association and processes it into different varieties of products.
The deal between both parties was signed in 2020. It aims to develop and execute a backward integration plan that seeks to enhance and support the dairy value chain in line with the federal government’s plan for self-sufficiency in the dairy industry.
Speaking about how the union fulfils its side of the agreement, the KADALCU chief said, “We prioritise quality and standards as a cooperative union and we want to ensure our client off-take milk that meets the best global quality standards. This is why we have put in place a rigorous milk testing parameter.”
“We have what is called a quality control unit. We train the milk attendants to carry out basic tests on raw milk brought into the milk collection centre to ascertain the density level of the raw milk to avoid adulteration, and the PH level of the same to ensure they are not getting sour,” he added.
He stated that the union collects raw milk from its members and store it in a bigger milk collection centre for a maximum of 48 hours.
“The technology is almost similar to what is available at the milk collection centre though. We ensure the milk doesn’t stay too long at the centres. This milk is 100 per cent sourced from locally bred cows.
“Of course, we do get milk from crossbred cows, but it is rare. [About] 99 per cent of our milk is sourced from indigenous cows,” he further stated.
“In Kano alone, we have the capacity of producing 30,000 litres or more of milk a day. It is just that this milk is uncollectable because the farms are located in distant cities. This is where logistics, manpower, culture system and education in milk handling/transportation have to be in place. These are the reasons the milk is not being collected.
“But with the coming of Outspan Nigeria Limited, I am sure the system gaps would be closed sooner to ensure effective collection of milk from distant clusters,” Mr Usman noted.
He disclosed that “currently, there is an initiative called agro-pastoral development programme targeted at helping livestock farmers. There is also a project driven by a partnership between the federal government and the state government that targets improving our operations. The federal government has been highly supportive of dairy farmers. It donated and equipped the bulking centre that was upgraded by Outspan Nigeria Limited.”
The chairman revealed that KADALCU serves as an umbrella body for 74 primary cooperative societies from different local government areas of the state.
According to him, the cooperative union comprises about 12,500 members from the 74 cooperative societies, which have been segregated into three senatorial districts or zones of the state.
By Adedapo Adesanya
Dangote Petroleum Refinery imported a total of $3.74 billion) worth of crude oil in 2025, to make up for shortfalls that threatened the plant’s 650,000-barrel-a-day operational capacity.
The data disclosed in the Central Bank of Nigeria’s Balance of Payments report noted that “Crude oil imports of $3.74 billion by Dangote Refinery” contributed to movements in the country’s current account position, as Nigeria imported crude oil worth N5.734 trillion between January and December 2025.
Last year, as the Nigerian National Petroleum Company (NNPC), which is the refinery’s main trade partner and minority stakeholder, faced its challenges, the company had to forge alternative supply links. This led to the importation of crude from Brazil, Equatorial Guinea, Angola, Algeria, and the US, among others.
For instance, in March 2025, the company said it now counts Brazil and Equatorial Guinea among its global oil suppliers, receiving up to 1 million barrels of the medium-sweet grade Tupi crude at the refinery on March 26 from Brazil’s Petrobras.
Meanwhile, crude oil exports dropped from $36.85 billion in 2024 to $31.54 billion in 2025, representing a 14.41 per cent decline, further shaping the external balance.
The report added that the refinery’s operations also reduced Nigeria’s reliance on imported fuel, noting that “availability of refined petroleum products from Dangote Refinery also led to a substantial decline in fuel imports.”
Specifically, refined petroleum product imports fell sharply to $10.00 billion in 2025 from $14.06 billion in 2024, representing a 28.9 per cent decline, while total oil-related imports also eased.
However, this was offset by a rise in non-oil imports, which increased from $25.74 billion to $29.24 billion, up 13.6 per cent year-on-year, reflecting sustained demand for foreign goods.
At the same time, the goods account remained in surplus at $14.51 billion in 2025, rising from $13.17 billion in 2024, supported largely by activities linked to the Dangote refinery and improved export performance in other segments.
The CBN stated that the stronger goods balance was driven by “significant export of refined petroleum products worth $5.85bn by Dangote Refinery,” alongside increased gas exports to other economies.
Nigeria posted a current account surplus of $14.04 billion in 2025, lower than the $19.03 billion recorded in 2024 but significantly higher than $6.42 billion in 2023. The decline from 2024 was driven partly by structural changes in oil trade flows, including crude imports for domestic refining, according to the report.
Pressure on the current account came from higher external payments. Net outflows for services rose from $13.36 billion in 2024 to $14.58 billion in 2025, driven by increased spending on transport, travel, insurance, and other services.
Similarly, net outflows in the primary income account surged by 60.88 per cent to $9.09 billion, largely due to higher dividend and interest payments to foreign investors.
In contrast, secondary income inflows declined slightly from $24.88 billion in 2024 to $23.20 billion in 2025, as official development assistance and personal transfers weakened, although remittances remained a key source of inflow, as domestic refineries grappled with persistent feedstock shortages, exposing a deepening supply paradox in the country’s oil sector.
This comes despite the Federal Government’s much-publicised naira-for-crude policy designed to prioritise local supply.
By Aduragbemi Omiyale
An application has been submitted by Sovereign Trust Insurance Plc for its proposed N5.0 billion rights issue.
The application was sent to the Nigerian Exchange (NGX) Limited, and it is for approval to list shares from the exercise when issued to qualifying shareholders.
A notice signed by the Head of Issuer Regulation Department of the exchange, Mr Godstime Iwenekhai, disclosed that the request was filed on behalf of the underwriting firm by its stockbrokers, Cordros Securities Limited, Dynamic Portfolio Limited and Cedar of Lebanon Securities.
The company intends to raise about N5.022 billion from the rights issue to boost its capital base, as demanded by the National Insurance Commission (NAICOM) for insurers in the country.
Sovereign Trust Insurance plans to issue 2,510,848,144 ordinary shares of 50 Kobo each at N2.00 per share on the basis of three new ordinary shares for every 17 existing ordinary shares held as of the close of business on Tuesday, March 17, 2026.
“Trading license holders are hereby notified that Sovereign Trust Insurance has through its stockbrokers, Cordros Securities Limited, Dynamic Portfolio Limited and Cedar of Lebanon Securities, submitted an application to Nigerian Exchange Limited for the approval and listing of a rights issue of 2,510,848,144 ordinary shares of 50 Kobo each at N2.00 per share on the basis of three new ordinary shares for every 17 existing ordinary shares held as of the close of business on Tuesday, March 17, 2026,” the notification read.
By Adedapo Adesanya
Food Concepts Plc, the parent company of fast food brands like Chicken Republic and PieXpress, has disclosed plans to pay 10 Kobo in interim dividend to new and existing shareholders for the 2026 financial year.
This was disclosed by the company in a notice to the NASD Over-the-Counter (OTC) Securities Exchange, where it trades its securities.
The notice indicated that the proposed interim dividend, which comes with no bonus, will be paid to those who hold the stocks of the company as of the qualification date for the dividend, which was Tuesday, March 24.
This means only those who hold the company’s shares as of the closing session will be eligible to receive the stipulated dividend payment.
The shareholders of the company will be credited with the 10 Kobo dividend on Tuesday, March 31.
The notice noted that the closure of the company’s register will be on Wednesday, March 25, through Friday, March 27, 2026, both days inclusive.
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