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 Modupe Gbadeyanka
Customers of AXA Mansard in the Micro Small and Medium Scale Enterprise (MSME) sector of the economy will enjoy free exhibition stands at the Made by Nigerians Fair.
The fair is scheduled to take place on Saturday, December 7 and Sunday, December 8, 2024, at the Landmark Event Centre, Lagos.
To support small business owners, AXA Mansard is paying for stands for selected entrepreneurs to showcase their products at the fair, which attracts thousands of people.
According to the Head of Marketing at AXA Mansard Insurance Plc, Mr Olusesan Ogunyooye, this is another gesture by the company to show that MSMEs can benefit from having insurance.
He described MSMEs as the backbone of any economy, noting that they drive innovation, create jobs, and contribute significantly to national development.
“Our support for these businesses at the MBN Fair reflects the commitment to their growth and sustainability. We are passionate about helping them reach their full potential by connecting them with resources and opportunities that foster success.
“By the very nature of insurance, its benefits are in the future and they are uncertain. That has been a main source of discouragement, particularly to MSMEs. Businesses are geared to making money.
“So, when thinking about insurance, an average MSME would rather invest the money in the growth of his business first.
“The risks that businesses face are also real. There are various types of risks businesses have to contend with today; from burglary to fire, the health of employees, and so on.
“When these risks manifest, they can significantly impact a business negatively. We understand that to get MSMEs to protect themselves and the millions of jobs they create, we must help them strike a balance between growing their businesses and protecting them.
“So, we have come up with different Initiatives to help them grow their businesses. The opportunity to exhibit their products and services to thousands of visitors to the MBN Fair is another in the series of our initiatives.
“We are convinced that for insurance to grow, we need to help people and businesses see it as a strategic lever to grow their businesses, not a cost that takes away from them. If we get this right, it can’t have a massive impact on our economy because, when MSMEs thrive, the economy will prosper.
“We have experimented with this model, and we are particularly excited about the responses from our customers. It is a call for us to do more, and we are committed to Nigerian MSMEs,” Mr Ogunyooye stated.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.05 per cent gain on Friday, December 6 after the price of Afriland Properties Plc went up by 60 Kobo to settle for the day at N16.60 per share versus Thursday’s closing price of N16.00 per share.
Consequently, the market capitalisation of the bourse increased during the session by N520 billion to settle at N1.056 trillion, the same value it ended a day earlier, as the NASD Unlisted Security Index (NSI) went up by 1.5 points to wrap the session at 3,014.91 points compared with 3,013.41 points recorded in the previous session.
Business Post reports that yesterday, the price of Acorn Petroleum Plc depreciated at the close of business by 15 Kobo to trade at N1.54 per unit compared with the preceding day’s N1.69 per unit.
The volume of securities traded in the session by investors soared by 168.3 per cent on Friday to 199,577 units from 74,381 units, but the value of securities went down by 45.8 per cent to N1.4 million from the N2.7 million recorded a day earlier, and the number of deals grew by 20 per cent to six deals from the five deals executed in the preceding session.
Geo-Fluids Plc remained the most active stock by volume (year-to-date) with 1.7 billion units sold for N3.9 billion, trailed by Okitipupa Plc with 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with 297.3 million units worth N5.3 million.
Also, Aradel Holdings Plc remained the most active stock by value (year-to-date) with 108.7 million units worth N89.2 billion, followed by Okitipupa Plc with 752.2 million units valued at N7.8 billion, and Afriland Properties Plc with 297.3 million units sold for N5.3 billion.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited rebounded by 0.10 per cent on Friday as almost all the key sectors closed in green when trading activities ended for the week.
The banking index appreciated by 0.73 per cent, the insurance sector gained 0.55 per cent, the energy counter improved by 0.17 per cent, and the industrial goods space jumped by 0.04 per cent, while the consumer goods sector depreciated by 0.16 per cent.
At the close of business, the All-Share Index (ASI) moved up by 96.64 points to 98,210.75 points from 98,114.11 points and the market capitalisation gained N58 billion to quote at N59.534 trillion compared with Thursday’s closing value of N59.476 trillion.
The bourse finished with 27 price advancers and 21 price decliners, representing a positive market breadth index and bullish sentiment.
Golden Guinea Breweries jumped by 9.98 per cent to N5.40, Japaul improved by 9.30 per cent to N2.35, Sunu Assurances expanded by 9.07 per cent to N5.05, Sovereign Trust Insurance rose by 7.69 per cent to 84 Kobo, and Secure Electronic Technology grew by 7.69 per cent to 70 Kobo.
On the flip side, Eterna lost 4.62 per cent to N22.70, Sterling Holdings depreciated by 4.12 per cent to N4.65, Prestige Assurance fell by 3.85 per cent to 75 Kobo, Consolidated Hallmark shrank by 3.85 per cent to N2.50, and Champion Breweries slumped by 3.50 per cent to N3.86.
Yesterday, investors bought and sold 1.0 billion equities worth N17.5 billion in 7,220 deals, in contrast to the 723.0 million equities valued at N12.8 billion transacted in 8,495 deals a day earlier, indicating a decline in the number of deals by 15.01 per cent and a surge in the trading volume and value by 43.98 per cent and 36.72 per cent, respectively.
On top of the activity chart on Friday was Wema Bank with the sale of 472.5 million stocks valued at N4.1 billion, Fidelity Bank traded 251.5 million shares worth N4.0 billion, FCMB transacted 45.0 million equities for N404.9 million, UBA sold 42.3 million shares valued at N1.4 billion, and Japaul traded 20.7 million stocks worth N46.3 million.
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