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Nigeria Unable To Achieve Annual 1.6bn  Litre Milk Target  – Minister

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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.

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FIRS Clarifies New Tax Laws, Debunks Levy Misconceptions

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The Federal Inland Revenue Service has said that Nigeria’s newly enacted tax laws are designed to strengthen economic competitiveness, attract investments, and improve long-term fiscal stability.
The agency also clarified that the much-debated four per cent development levy on imported goods is not a new or additional tax burden, but a streamlined consolidation of several existing levies.
According a statement released Wednesday, one of the most misunderstood elements of the new tax framework is the four per cent development levy with the agency explaining that the levy replaces a range of fragmented charges — such as the Tertiary Education Tax, NITDA Levy, NASENI Levy and Police Trust Fund Levy — that businesses previously paid separately.
This consolidation, it said, reduces compliance costs, eliminates unpredictability and ends the era of multiple agency-driven levies. The law also exempts small businesses and non-resident companies, offering protection to firms most vulnerable to economic shocks.
Another major clarification relates to Free Trade Zones. Earlier commentary had suggested that the government was rolling back the incentives that have attracted export-oriented investors for decades. However, the reforms maintain the tax-exempt status of FTZ enterprises and introduce clearer guidelines to preserve the purpose of the zones.
“Under the new rules, FTZ companies can sell up to 25 per cent of their output into the domestic market without losing tax exemptions. A three-year transition period has also been provided to allow firms to adjust smoothly.
“Government officials say the reforms aim to curb abuses where companies used FTZ licences to evade domestic taxes while competing within the Nigerian market”, it said.
With the new measures, Nigeria aligns with global FTZ models in places like the UAE and Malaysia, where the zones function primarily as export hubs for logistics, manufacturing and technology.
The introduction of a 15 per cent minimum Effective Tax Rate for large multinational and domestic companies has also been met with public concern. But the FIRS notes that this policy aligns with a global tax agreement endorsed by over 140 countries under the OECD/G20 framework.
Without this adoption, Nigeria risked losing revenue to other countries through the “Top-Up Tax” mechanism, where the home country of a multinational collects the difference when a host country charges below 15 per cent. By localising the rule, Nigeria ensures that tax revenue from multinational operations remains within its borders.
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CBN Revises Cash Withdrawal Rules January 2026, Ends Special Authorisation

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The Central Bank of Nigeria (CBN) has revised its cash withdrawal rules, discontinuing the special authorisation previously permitting individuals to withdraw N5 million and corporates N10 million once monthly, with effect from January 2026.

In a circular released Tuesday, December 2, 2025, and signed by the Director, Financial Policy & Regulation Department, FIRS, Dr. Rita I. Sike, the apex bank explained that previous cash policies had been introduced over the years in response to evolving circumstances.

However, with time, the need has arisen to streamline these provisions to reflect present-day realities.

The statement said the new set of cash-related policies is designed to reduce the cost of cash management, strengthen security, and curb money laundering risks associated with the economy’s heavy reliance on physical currency.

“These policies, issued over the years in response to evolving circumstances in cash management, sought to reduce cash usage and encourage accelerated adoption of other payment options, particularly electronic payment channels.

“With the effluxion of time, the need has arisen to streamline the provisions of these policies to reflect present-day realities,”

“Effective January 1, 2026, individuals will be allowed to withdraw up to N500,000 weekly across all channels, while corporate entities will be limited to N5 million”, it said.

According to the statement, withdrawals above these thresholds would attract excess withdrawal fees of three percent for individuals and five percent for corporates, with the charges shared between the CBN and the financial institutions.

Daily withdrawals from Automated Teller Machines (ATMs) would be capped at N100,000 per customer, subject to a maximum of N500,000 weekly stating that these transactions would count toward the cumulative weekly withdrawal limit.
The special authorisation previously permitting individuals to withdraw N5 million and corporates N10 million once monthly has been discontinued.

The CBN also confirmed that all currency denominations may now be loaded in ATMs, while the over-the-counter encashment limit for third-party cheques remains at N100,000. Such withdrawals will also form part of the weekly withdrawal limit.

Deposit Money Banks are required to submit monthly reports on cash withdrawals above the specified limits, as well as on cash deposits, to the relevant supervisory departments.

They must also create separate accounts to warehouse processing charges collected on excess withdrawals.

Exemptions and superseding provisions
Revenue-generating accounts of federal, state, and local governments, along with accounts of microfinance banks and primary mortgage banks with commercial and non-interest banks, are exempted from the new withdrawal limits and excess withdrawal fees.

However, exemptions previously granted to embassies, diplomatic missions, and aid-donor agencies have been withdrawn.

The CBN clarified that the circular is without prejudice to the provisions of certain earlier directives but supersedes others, as detailed in its appendices.

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Shippers Council Vows Commitment To Security At Nigerian Ports

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The Nigerian Shippers Council (NSC)has restated its commitment towards ensuring security at Nigerian seaports.
Executive Secretary/Chief Executive Officer of the Council, Dr Pius Akuta, said this in Port Harcourt, while declaring open a one day workshop organized by the Nigerian Shippers Council in collaboration with the Nigerian police( Marin Division).
Theme for the workshop was ‘Facilitating Port Efficiency; The strategic Role of Maritime police “
Akuta who was represented by the Director, Regulatory Services, Nigerian Shippers Council, Mrs Margeret Ogbonnah, said the workshop was to seek areas of collaboration with security agencies at the Ports with a view to facilitating trade
Akuta said the theme of the workshop reflects the desire of the council and the Nigerian police to build capacity of police officers for better understanding and administration of their statutory roles in the Maritime environment.
He said Nigerian seaports has constantly been reputed as one of the Port with the longest cargo dwell in the world, adding,”This is so, because while it takes only six hours to clear a containerized cargo in Singapore Port, seven days in Lome Port, it takes an average of 21 days or more in Nigerian Ports” stressing that this situation which has affected the global perception index on Ease of Doing Business in Nigerian seaports must be addressed.
Akuta said NSC which is the economic regulator of the Ports has the responsibility of ensuring that efficiency is established in the Ports inorder to attract patronages.
“Pursuant to its regulatory mandate, the NSC has been collaborating with several agencies to ensure the facilitation of trade and ease of movement of cargo outside the Ports to avoid congestion”he said.
Also speaking the commissioner of police, Eastern Port Command, Port Harcourt, CP Tijani Fakai, said Maritime police has played some roles in facilitating Ports efficiency.
He listed some of the roles to include ensuring security and crime prevention at the Ports, checking of illegal fishing activities at the Ports, checking of human trafficking and drug smuggling and prevention of fire incident at the Ports.
Represented by ACP, Rufina Ukadike, the CP said police at the Ports have also helped in the decongestion and prevention of unauthorized Anchorage.
He commended the Nigerian Shippers Council for the workshop and assured of continuous collaboration.
Speaking on the dynamics of cargo handling, Deputy Controller of customs, Muhydeen Ayinla Ayoola, said the launching of electronic tracking system and dissolution of controller General Taskforce has helped to ensure efficiency at the Ports.
Ayoola who represented the custom Area Controller Port Harcourt 1 Area command, however raised concerned over rising national security threat , which according to him has affected efficiency at the Ports.
John Bibor
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