Business
Nigeria Unable To Achieve Annual 1.6bn Litre Milk Target – Minister
Nigeria’s Minister of Agriculture and Rural Development, Dr Mohammed Abubakar, has said that due to continuous movement of animals in search of pasture, Nigeria has been unable to achieve its annual production target of 1.6 billion litres of milk.
The Minister said this while flagging off the National Pasture Development Programme (NAPDEP) at Paikon Kore, Gwagwalada Area Council in Federal Capital Territory (FCT).
He said the production system limits both production and productivity per animal due to lack of all-year-round availability of feeding and watering resources, thereby causing a drawback to the ability of the pastoralists to settle in a given place and produce.
The result of this continuous movement in search of pasture, he explained, has adversely affected the animals’ attainment of their optimal productivity and consistently impaired national capacity for self-sufficiency in livestock products and animal protein needs, especially the national target of 1.6 billion liters of milk per annum.
“It has eluded our national peace-building efforts through the incessant conflict between pastoralists and crop farmers along their movement routes. These have also impaired improvement in the livelihood of the pastoral families in particular and neighboring crop farmers.
“The continuous extensive system of production is not a viable option since the land area for grazing and feed availability are severely limiting factors in the high livestock producing zones of Nigeria.
“It is, therefore, very necessary and of top priority that all players in the industry focus on meeting the huge demand for pasture. This will give a great opportunity to unlock the potential of the Livestock industry and the development of its rich value chains”, he stated
Dr Abubakar continued that the launching of the NAPDEP is one of the many steps and interventions by the Federal Government through the Federal Ministry of Agriculture and Rural Development (FMARD) to mitigate the conflict, improve the sustainability of food security, national economy, and export of livestock products.
“The National Livestock Transformation Plan (NLTP) is the umbrella for all the Livestock intervention, programmes and projects, such as the Livestock Productivity Improvement and Resilience Support (LPRES) and Ruminant Livestock Intervention Programme (RULIP), as vehicles for the achievement of our national aim for the livestock sector.
“Through these, we have been able to provide the enablers for improved production practices through the establishment of pasture plots, animal handling and milk collection centres, construction of solar-powered boreholes and hand pumps, rehabilitation and construction of mini earth dams, health facilities, etc. in some selected grazing reserves and communities in the States.
“This is ongoing and part of the effort is what we are here to do today as we distribute inputs for pasture production to some beneficiaries”, he explained.
He urged partners and stakeholders within the livestock industry to embrace the NAPDEP by active participation in the value chain (production, processing, and marketing) for sustainable and improved ruminant animal production in Nigeria.
“This is to serve as a panacea for reduction in conflict emanating from cattle movement, attainment of self-sufficiency in good quality pasture/forage production, and the transition from extensive grazing to a well-planned, settled form of livestock production.
“Thus, NAPDEP will focus on forage species that are cultivated for livestock feed that are carefully selected based on adaptation to ecological areas as animal feed.
“Therefore, as a way of continuous efforts in promoting intentional pasture development in Nigeria, I have endorsed the proposal that this flag-off day becomes an annual National Pasture Planting Day that is, 28th June every year, to encourage private and public sector investments in commercial pasture production”, the Minister noted.
In his address, the Director General Of National Agricultural Seed Council (NASC), Dr Philip Ojo said the development of ranches, paddocks and grazing reserves for intensive/semi-intensive animal husbandry have severally been proffered as solution to this national security concern.
He said the efforts of the Ministry through the Department of Animal Husbandry Services to develop pastures is very timely and a step in the right direction as this will not only reduce the crop farmers and herders’ clashes but also enhance the productivity of livestock.
Business
33 Banks Raise N4.65tn As Recapitalisation Ends
The Central Bank of Nigeria (CBN) yesterday said 33 banks have met new minimum capital requirements under its recapitalisation programme, raising a combined N4.65 trillion to strengthen the financial system.
The apex bank disclosed this in a statement marking the end of the exercise, which commenced in March 2024 and drew participation from domestic and foreign investors.
The statement was jointly signed by the Director of Banking Supervision, Olubukola Akinwunmi, and the Acting Director of Corporate Communications, Hakama Sidi-Ali.
The statement said “Over the 24-month period, Nigerian banks raised a total of N4.65tn in new capital, strengthening the resilience of the financial system and enhancing its capacity to support the economy.”
The regulator said local investors accounted for 72.55 per cent of the funds, while international investors contributed 27.45 per cent, reflecting continued confidence in the sector.
Commenting on the outcome, the CBN Governor, Olayemi Cardoso, said in the statement, “The recapitalisation programme has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is well-positioned to support economic growth and withstand domestic and external shocks.”
It added that while 33 banks have complied with the new thresholds, a few others are still undergoing regulatory and legal processes.
The statement noted, “The CBN confirms that 33 banks have met the revised minimum capital requirements established under the programme.
“A limited number of institutions remain subject to ongoing regulatory and judicial processes, which are being addressed through established supervisory and legal frameworks.
“All banks remain fully operational, ensuring continued access to banking services for customers.”
The apex bank stressed that the exercise was executed without disrupting banking operations, ensuring uninterrupted access to services nationwide.
It further stated that key prudential indicators have improved, particularly capital adequacy ratios, which remain above global Basel benchmarks.
The minimum ratios were set at 10 per cent for regional and national banks and 15 per cent for banks with international licences.
The bank also said the recapitalisation coincided with a gradual exit from regulatory forbearance, a move it said improved asset quality, strengthened balance sheet transparency, and enhanced overall stability.
To preserve these gains, the CBN said it has reinforced its risk-based supervision framework, mandating periodic stress tests and adequate capital buffers for banks.
It added that supervisory and prudential guidelines would be reviewed regularly to strengthen governance, risk management, and resilience across the sector.
“The successful completion of the programme establishes a stronger and more resilient banking system, better positioned to support lending, mobilise savings, and withstand domestic and global shocks,” the statement said.
The Tide learnt that foreign capital inflows into Nigeria’s banking sector rose by 93.25 per cent year-on-year to $13.53bn in 2025, up from $7.00bn recorded in 2024, amid the ongoing recapitalisation drive by the Central Bank of Nigeria.
Data from the National Bureau of Statistics capital importation report showed that the banking sector remained the dominant destination for foreign capital, accounting for $13.53bn of the total $23.22bn recorded in 2025, representing 58.26 per cent of total inflows, up from 56.81 per cent in 2024.
The surge reflects heightened investor interest in Nigerian banks as they raised fresh capital to meet new regulatory thresholds introduced by the apex bank, with industry-wide recapitalisation activities driving large-scale inflows across all quarters of the year.
However, the Centre for the Promotion of Private Enterprise (CPPE) recently raised concerns over weak credit flows to small businesses despite recent banking sector reforms.
The CPPE, led by a renowned economist, Dr Muda Yusuf, acknowledged that the ongoing bank recapitalisation exercise by the CBN has strengthened the financial system, but warned that the benefits have yet to translate into meaningful support for the real economy.
Business
SMEs Dev: Firms Launch N100m Loan Scheme
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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