Economy

SON Establishes Standards for Livestock Feeds

Published

5 years ago

23/08/2020

By Adedapo Adesanya

The Standards Organisation of Nigeria (SON) has developed new standards for animal and livestock feeds value chain to support the federal government’s efforts in achieving food security.

This was made known at a workgroup meeting on Saturday by Mr Osita Aboloma, the Director-General of SON, in Lagos as part of an ongoing Livestock Micro Reforms in Agribusiness (L-MIRA) World Bank project on cattle feed value chain.

Mr Aboloma, who was represented by Deputy Director/Head Food Group, SON, Mrs Omolara Okunlola, said developing the standards would help in improving agribusiness in the country.

According to him, the new standards will help to counter the adverse effects of COVID-19 pandemic on key sectors such as agriculture.

He explained that the development of the standards was achieved through a consensus of relevant parties, including those in agriculture and also academia.

According to him, the new standards focussed on demands and relevance to animal and livestock feeds value chain to boost agribusiness in the country.

He said that the standards were for salt mineral lick, blood meal as ingredients for fish production, including wheat bran, forage and small ruminant feed for sheep and goats.

“The elaboration of the standards for salt mineral lick which prescribed the specification for common salt as mineral licks for animal consumption.

“It will ensure proper proportioning of minerals in animal and poultry feeds for effective productivity of animals husbandry.

“Other requirements specified was that of blood .eal as an ingredient in fish meal production to ensure adequacy in meeting the protein requirements in fish farming.

“The elaboration of the standard for small ruminant feed was also established,” he said.

Mr Aboloma further stated that the initiative would assist feed manufacturers in compounding balance, protein ration and also guide fish farmers in the selection of appropriate feed and feed ingredients.

According to him, it will also guide feed manufacturers in compounding balanced ratios for small ruminant such as goats and sheep feeds.

”It will enhance meat and dairy from small ruminant production thereby contributing to the country’s gross domestic product in agribusiness.

”The elaboration of standard for small ruminant feed premix was found necessary because small ruminants (sheep and goats) are increasingly becoming major sources of animal protein,” he said

According to the SON Chief, a recent survey indicated that small ruminants contribute over 30 per cent of total meat supply in the country.

“The standard is, therefore, to guide premix manufacturers in compounding premixes for small ruminant’s feed and also Feed millers and livestock farmers their choice of feeds.

“We also elaborated the standards for wheat bran as a livestock feed because of its high demand due its nutritional value, cheap source of protein and high fibre content.

“The standard for conserved forage feed for ruminants was established to assist and guide the feed producers in production and processing of forages for ruminants,” he added

The SON boss said the standards when approved, would enhance the production of small ruminant and preservation of forages

“Forages are the most important feed resource for ruminants worldwide, which needed to be properly processed and stored in line with best practices.

“We know most crops are seasonal and need to be cut, dried and conserved as pasture, since there is large variability in the quality of forages.

“Therefore, measurement and production of feeding value and nutritive value are essential for high levels of production,” he said.

Economy

NBA Demands Suspension of Controversial Tax Laws

Published

1 hour ago

24/12/2025

Modupe Gbadeyanka

By Modupe Gbadeyanka

The federal government has been asked by the Nigerian Bar Association (NBA) to suspend the implementation of the controversial tax laws.

In a reaction to the tax reform acts, the president of the group, Mr Afam Osigwe (SAN), the suspension of the laws would allow for a proper investigation into allegations of alterations in the gazetted and harmonised copies.

A member of the House of Representatives, Mr Abdussamad Dasuki, alleged that some parts of the laws passed by the parliament were different from the gazetted copy.

To address the issues raised, the NBA said it is “imperative that a comprehensive, open, and transparent investigation be conducted to clarify the circumstances surrounding the enactment of the laws and to restore public confidence in the legislative process.”

“Until these issues are fully examined and resolved, all plans for the implementation of the Tax Reform Acts should be immediately suspended,” the association declared.

It noted that the controversies “raise grave concerns about the integrity, transparency, and credibility of Nigeria’s legislative process.”

“These developments strike at the very heart of constitutional governance and call into question the procedural sanctity that must attend lawmaking in a democratic society,” it noted.

“Legal and policy uncertainty of this magnitude has far-reaching consequences. It unsettles the business environment, erodes investor confidence, and creates unpredictability for individuals, businesses, and institutions required to comply with the law. Such uncertainty is inimical to economic stability and should have no place in a system governed by the rule of law.

“Nigeria’s constitutional democracy demands that laws, especially those with profound economic and social implications, emerge from processes that are transparent, accountable, and beyond reproach. Anything short of this undermines public trust and weakens the foundation upon which lawful governance rests.

“We therefore call on all relevant authorities to act swiftly and responsibly in addressing this controversy, in the overriding interest of constitutional order, economic stability, and the preservation of the rule of law,” the organisation stated.

Economy

MRS Oil, Two Others Raise NASD Bourse Higher by 0.52%

Published

3 hours ago

24/12/2025

Adedapo Adesanya

By Adedapo Adesanya

Demand for hot stocks, including MRS Oil Plc, buoyed the NASD Over-the-Counter (OTC) Securities Exchange by 0.52 per cent on Tuesday, December 23.

The energy company was one of the three price gainers for the session as it chalked up N19.69 to sell at N216.59 per share versus the previous day’s value of N196.90 per share.

Further, FrieslandCampina Wamco Nigeria Plc gained N2.95 to close at N56.75 per unit versus N53.80 per unit and Golden Capital Plc appreciated by 84 Kobo to N9.29 per share from Monday’s N8.45 per share.

Consequently, the market capitalisation went up by N10.95 billion to N2.125 trillion from N2.125 trillion and the NASD Unlisted Security Index (NSI) rose by 18.31 points to 3,570.37 points from 3,552.06 points.

Yesterday, the NASD bourse recorded a price loser, the Central Securities Clearing System Plc (CSCS), which gave up 17 Kobo to close at N33.70 per unit against the previous trading value of N33.87 per unit.

The volume of securities traded at the session went down by 97.6 per cent to 297,902 units from the previous day’s 12.6 million units, the value of securities decreased by 98.5 per cent to N10.5 million from N713.6 million, and the number of deals remained flat at 32 deals.

By value, Infrastructure Credit Guarantee Company (InfraCredit) Plc ended as the most actively traded stock on a year-to-date basis with 5.8 billion units exchanged for N16.4 billion. This was followed by Okitipupa Plc, which traded 178.9 million units valued at N9.5 billion, and MRS Oil Plc with 36.1 million units worth N4.9 billion.

In terms of volume, also on a year-to-date basis, InfraCredit Plc led the chart with a turnover of 5.8 billion units traded for N16.4 billion. Industrial and General Insurance (IGI) Plc ranked second with 1.2 billion units sold for N420.7 million, while Impresit Bakolori Plc followed with the sale of 536.9 million units valued at N524.9 million.

Economy

NGX All-Share Index Soars to 153,354.13 points

Published

4 hours ago

24/12/2025

Dipo Olowookere

By Dipo Olowookere

It was another bullish trading session for the Nigerian Exchange (NGX) Limited as it closed higher by 0.59 per cent on Tuesday.

The market further rallied due to continued interest in large and mid-cap stocks on the exchange by investors rebalancing their portfolios for the year-end.

Yesterday, Aluminium Extrusion sustained its upward trajectory after it further appreciated by 9.96 per cent to N14.90, as Austin Laz gained 9.81 per cent to close at N2.91, Custodian Investment improved by 9.69 per cent to N38.50, and First Holdco soared by 9.35 per cent to N50.30.

Conversely, Royal Exchange declined by 7.22 per cent to N1.80, Champion Breweries shrank by 6.57 per cent to N15.65, NASCON lost 5.36 per cent to trade at N105.05, Sovereign Trust Insurance depreciated by 5.28 per cent to N3.77, and Japaul went down by 4.51 per cent to N2.33.

At the close of business, 29 shares ended on the gainers’ table and 27 shares finished on the losers’ log, representing a positive market breadth index and bullish investor sentiment.

This raised the All-Share Index (ASI) by 895.06 points to 153,354.13 points from 152,459.07 points and lifted the market capitalisation by N579 billion to N97.772 trillion from the previous day’s N97.193 trillion.

VFD Group finished the day as the busiest stock after it recorded a turnover of 192.0 million units worth N2.1 billion, GTCO exchanged 63.5 million units valued at N5.6 billion, Access Holdings traded 49.8 million units for N1.0 billion, First Holdco sold 45.8 million units valued at N2.3 billion, and Secure Electronic Technology transacted 38.3 million units worth N28.4 million.

In all, market participants bought and sold 677.4 million units valued at N20.8 billion in 27,589 deals compared with the 451.5 million units worth N13.0 billion traded in 33,327 deals on Monday, showing an improvement in the trading volume and value by 50.03 per cent and 60.00 per cent apiece, and a shortfall in the number of deals by 17.22 per cent.