Economy
Outspan Expands Efforts to Improve Local Milk Production
By Modupe Gbadeyank
A subsidiary company of ofi, Outspan Nigeria Limited, has stepped up efforts to improve local milk production by organising a capacity-building programme on dairy production management for smallholder dairy farmers in Kano State to deepen its backward integration programme in the dairy value chain.
The programme was executed in conjunction with the Kano Dairy and Livestock Husbandry Cooperative Union (KADALCU), which comprises over 70,000 smallholder dairy farmers.
The intense dairy farming training initiative is aimed at expanding both upstream and midstream segments of the dairy value chain to strengthen the knowledge and skill levels of the cooperative’s members and milk collectors at the MCC.
It is believed that this scaled strategic intervention will ensure sustainability and consistency in milk production quality and volume within the dairy farming community.
The training followed the establishment of two additional milk collection centres (MCC), an upgrade of a local bulking centre, and an artificial insemination exercise carried out on 100 cattle to boost the genetics of local dairy breeds in the state.
These efforts are geared at helping the federal government achieve its policies of reducing the importation of critical food produce whose production can be successfully scaled up locally by redirecting investment to raise the standards of local agriculture infrastructure and equipping local smallholder farmers with the knowledge of the latest farming practices.
Speaking about Outspan’s milk production value chain development efforts, Mr Praveen Paulsamy, General Manager for Dairy in Nigeria, said, “Through our purpose to re-imagine global agriculture and food systems, we aim to address the many challenges involved in meeting the needs of our local markets while achieving positive impact for the farming communities, our planet and our stakeholders.”
He added, “We are partnering and investing on Kano dairy union cooperatives to improve the output levels of the 70,000 strong smallholder dairy farmers’ group that make up the union by upscaling, finetuning and expanding their farming operations via farming infrastructure upgrade, the introduction of members to trending farming practices and innovations.
“This latest capacity-building initiative has no doubt exposed the smallholder dairy farmers to new skills, which will come handy in all their dairy farming practices.”
On the impact of the capacity-building initiative, Dr Celestine Ayok, a dairy consultant, who trained the smallholder farmers, said, “Overall, it is quite obvious the dairy farmers accepted the pattern of the training module adopted during the training and from our general assessment, there was an increase in knowledge and skills of the participants after the training.”
By Aduragbemi Omiyale
The credit ratings of Stanbic IBTC Insurance, a subsidiary of Stanbic IBTC Holdings Plc, have been upgraded by Agusto & Co.
The improved ratings underscore the company’s commitment to robust risk management, operational discipline, and its strong capacity to meet obligations to policyholders.
In a statement, Stanbic IBTC Insurance said its long-term and short-term ratings of A and A1 were raised by the rating agency. It was added that the two ratings were given a stable outlook, reflecting stronger confidence in the company’s financial resilience, governance standards, and long-term sustainability.
Agusto also cited Stanbic IBTC Insurance’s sound liquidity position, prudent business strategy, and the strategic backing it receives as part of Stanbic IBTC Holdings.
As part of its growth strategy, Stanbic IBTC Insurance continues to expand its retail footprint across Nigeria, enhancing access to life insurance solutions and deepening its presence in key markets. This expansion supports its mission to serve individuals, families, and businesses with reliable and accessible insurance offerings.
In terms of claims settlement, Stanbic IBTC has consistently demonstrated its commitment to prompt and efficient payout to policyholders and annuitants.
Since its establishment in 2021, the company has settled over 2,000 claims, amounting to more than N1.8 billion in cash.
Additionally, it has paid over 16 billion in annuities to more than 4,900 retirees, reaffirming its dedication to delivering reliable and timely benefits.
“We are delighted with this upgrade as a reflection of our progress and the trust we’ve earned from stakeholders.
“Our focus remains on delivering reliable protection, exceptional service, and enduring value to both policyholders and other stakeholders.
“This recognition motivates us to uphold the highest standards of financial discipline, service excellence, and integrity,” the chief executive of Stanbic IBTC Insurance, Mr Akinjide Orimolade, stated.
By Aduragbemi Omiyale
Additional 2,575,851,543 ordinary shares of First Holdco Plc issued to one of the investors of the company from a private placement have been listed on the Nigerian Exchange (NGX) Limited.
The equities were sold at the exercise at N32.50 per share, amounting to N83.715 billion. They were from the private placement of 3,276,923,077 ordinary shares of the financial services firm.
The listing of the new stocks have increased the total issued and fully paid-up shares of First Holdco Plc to 44,453,693,134 ordinary shares of 50 Kobo each from 41,877,841,591 ordinary shares of 50 Kobo each.
This development was confirmed by the bourse over the weekend in a disclosure to the investing community.
“Trading licence holders are hereby notified that additional 2,575,851,543 ordinary shares of 50 Kobo each of First Holdco Plc were on Monday, January 5, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares listed on NGX arose from the company’s private placement of 3,276,923,077 ordinary shares of 50 Kobo each at N32.50 per share.
“With the listing of the additional shares, the total issued and fully paid-up shares of First Holdco Plc have now increased from 41,877,841,591 to 44,453,693,134 ordinary shares of 50 Kobo each.
By Dipo Olowookere
Eighty-four equities gained weight on the floor of the Nigerian Exchange (NGX) Limited last week, higher than the 73 equities recorded a week earlier, helping the All-Share Index (ASI) to rise by 3.71 per cent to 162,298.08 points and lifting the market capitalisation by 3.84 per cent to N103.775 trillion.
In the five-day trading week, all other indices finished higher apart from the sovereign bond index, which closed flat.
Data also showed that 22 equities depreciated in the period under review, lower than 23 equities in the previous week, while 42 equities remained unchanged, lower than 51 equities in the previous week.
Multiverse ended the week as the biggest price gaienr after improving its value by 59.73 per cent to close at N23.40, McNichols appreciated by 53.20 per cent to N5.50, May and Baker expanded by 51.58 per cent to N28.80, Deap Capital rose by 43.54 per cent to N3.00, and Neimeth leapt by 43.22 per cent to N8.45.
On the other hand, Aluminium Extrusion was the biggest price loser with a 19.75 per cent decline to settle at N19.10, Austin Laz lost 11.56 per cent to trade at N4.13, Sovereign Trust Insurance moderated by 11.29 per cent to N3.38, Ikeja Hotel depreciated by 10.91 per cent to N40.00, and Juli contracted by 9.93 per cent to N7.26.
In the week, investors transacted 4.164 billion shares worth N94.026 billion in 248,254 deals versus the 7.821 billion shares valued at N134.471 billion traded in 150,799 deals in the preceding week.
Financial stocks led the activity chart with 2.651 billion units sold for N35.957 billion in 93,706 deals, contributing 63.67 per cent and 38.24 per cent to the total trading volume and value, respectively.
Services equities followed with 369.963 million units worth N3.383 billion in 16,521 deals, and third place was ICT shares with a turnover of 297.938 million units worth N5.727 billion in 21,548 deals.
Universal Insurance, Linkage Assurance, Access Holdings accounted for 1.261 billion shares worth N5.060 billion in 13,819 deals, contributing 30.28 per cent and 5.38 per cent to the total trading volume and value apiece.
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