Business
World Milk Day: Nestlé Dairy Programme Achieves Milk Collection Milestone
June first every year is World Milk Day. This year’s celebration is notable for Nestlé’s Nigeria Livestock Development Project (NLDP), with the milestone of 2,500 litres of fresh milk per day from only 200 litres collected on the first day of milk collection on June 1, 2021. A collaboration between Nestlé Nigeria, ‘CBiIL’ and 2SCALE, NLDP delivers 1,500 L/day at Paikon Kore Grazing Reserve and 1,000L/day at Kachia Grazing Reserve.
Victoria Uwadoka, Corporate Communications and Public Affairs Manager for Nestlé Nigeria, affirms that the collection of 2,500L/day was made possible by 25 cooperatives comprising over 625 households milking between 4,000 and 6,000 cows every day. These cooperatives have been trained and nurtured for over 18 months to achieve the good quality fresh milk now produced through the project.
The celebration of World Milk Day 2022 at Paikon Kore provided a platform for recognising and rewarding the farmers who excelled in various aspects of milk production. Categories of awards included Highest Producing Male (Abdulrahman Rabia), Highest Producing Female (Rabia Raga), Best Aggregator (Shehu Muhammed), Best Cooperative Kosan Denko, Best Milking Community, and Aggregator with Least Spoilage (Adamu Abdullah). The recipients were delighted and expressed their thanks to Nestlé and the NLDP.
The ceremony was attended by stakeholders and dignitaries, including The Mandate Secretary, ARDS, Mallam Abubakar Ibrahim, and Permanent Secretary, FCT, Mr Olusade Adesola, ably represented by Mr. Samuel Atang, Director, Operations, Planning and Strategy. Representatives of the Federal Ministry of Agriculture and Rural Development were also at the event.
Mr Olusade Adesola, The Permanent Secretary, FCT, said, “It is glad to note that milk production has steadily increased from 150 to 1,500 litres daily within the past two years of this partnership. I have been made to understand the products from this centre are being sold in markets within and outside the Federal Capital Territory.”
Also speaking, The Mandate Secretary, ARDS, Mallam Abubakar Ibrahim, said, “It may interest you all to know that since the reactivation of the MCCC in 2021 in partnership with Nestlé Nigeria PLC, daily milk production has risen from between about 300 to 1,500 litres. This is a result of continuous training and improvement initiatives by both partners and support from the Federal Ministry of Agriculture and Rural Development. If plans by the NLDP partnership to introduce new cattle breeds and a demonstration farm are anything to go by, milk production in the FCT will receive a boost.”
Nestlé continues to leverage its expertise in dairy to help build a sustainable dairy ecosystem through the NLDP to achieve its objective of Creating Shared Value with Nigerian dairy value chain stakeholders. The program contributes to the local economy by providing the training and empowerment of the locals and then purchasing services from them.
NLDP is built on three pillars: Better Fodder, Better Quality, and Better Products. This will be achieved by improving cooperative dynamics, promoting better herd health, and engendering hygienic milk collection and handling practices.
The NLDP has trained over 1,400 producers in modern Milk Handling and Milking Hygiene techniques to help them produce to industry standards, thereby opening more routes to market. Nestlé pays a premium above the market rates in addition to helping the families increase production and improve the quality of their products.
Nestlé has helped improve cattle health within the NLDP by deworming and vaccinating over 6,000 cattle against Foot and Mouth Disease. They were also treated against Contagious Bovine Pleuropneumonia (CBPP) in collaboration with the Federal Capital Territory (FCT) and Agriculture and Rural Development Secretariat (ARDS). The 6,000 cattle also received vitamin and mineral blocks (salt licks).
Another significant investment by the NLDP is the provision of Better Fodder which includes sufficient clean water, balanced pasture, silage, and hay. Over 250 hectares of Napier Grass and Bracheria have been cultivated and 5 Industrial boreholes built and commissioned. Three of the boreholes are fitted with drinking troughs for the cattle and taps to provide portable water to the communities. To further boost milk production, Nestlé is providing Cotton Seed Cakes which have the potential to increase milk productivity by up to 2L per cow.
To maintain milk quality from milking to the processing centre, milk must be handled carefully and kept at a temperature of about 2 degrees Celsius. Each of the 23 aggregators employed under the NLDP project is trained to maintain these quality standards. They test for spoilage and adulteration at the collection point. A motorbike, milk churns, and lactometers are also provided to facilitate their work.
The aggregators get the milk to the Milk Collection and Cooling Centers (MCCC) in the shortest possible time for cooling and bulking at the requisite temperature after a 4 step quality check.
Nestlé equips the MCCCs with modern laboratory equipment to ensure food safety is maintained at industry standards. The staff are trained and issued the right gear to conform to the set safety standards.
In line with Nestlé’s commitment to protecting the planet for future generations, the NLDP has adopted climate-friendly practices: A 30KVA solar power system has been installed to reduce the fossil fuels used at the MCCC in Paikon Kore. The industrial boreholes are also solar-powered.
United Bank for Africa (UBA), Redtech, and MoMo PSB have launched a payment interoperability partnership that expands cardless payment access for consumers and merchants across Nigeria. Redtech is backed by Heirs Holdings; MoMo PSB is MTN Nigeria’s fintech subsidiary.
With this development, MoMo PSB customers can now make payments directly from their MoMo wallets at participating UBA merchant locations using the “Pay with MoMo” feature on RedPay POS terminals; they can also visit any UBA branch to make withdrawals and deposits from and into their MoMo accounts. For online shoppers, e-commerce merchants can now receive payments directly from MoMo PSB customers through Redtech’s payment gateway infrastructure.
The partnership brings together Redtech’s payment technology and enablement capabilities, UBA’s merchant-acquiring and distribution layer, and MoMo PSB’s mobile money wallet ecosystem and customer base. Redtech holds licences as a Payment Terminal Service Provider (PTSP) and Payment Solution Service Provider (PSSP) from the Central Bank of Nigeria, authorising it to provide both POS and payment gateway services. Together, the three organisations are addressing a critical gap in Nigeria’s payments market – connecting banking-led merchant acceptance with telco-led mobile money wallets.
For MoMo PSB customers, Pay with MoMo increases the number of places where their wallets can be used for everyday payments. In the case of merchants, it opens access to a wider pool of customers and provides an additional payment option at the point of sale.
UBA’s Head, Digital Banking, Kayode Olubiyi, who spoke during the launch, noted that this partnership represents the solution to the gap identified in cash transactions and card access.
“What this partnership represents is an honest and effective answer to the gap we identified in cash transactions and card access. Our merchants are already serving millions of customers every day through the UBA network. By bringing Pay with MoMo into that network, we are giving those merchants a direct connection to MoMo PSB’s customer base – and giving MoMo PSB customers more places to use their wallets when they shop. That is a clear win for both sides.”
Redtech’s Chief Executive Officer, Emmanuel Ojo, emphasised that the partnership aims to make payments work better together in a way that is practical for everyday commerce.
“This partnership is about making payments work more seamlessly for everyday commerce and most importantly, It aligns with Africapitalism, as championed by the Chairman of Heirs Holdings, Tony Elumelu, CFR. By integrating our RedPay technology with MoMo PSB’s wallets through the UBA network, we will offer merchants and customers greater choice. Our goal is to build the payment infrastructure that ensures a merchant never has to turn away any customer in Nigeria or across Africa because of their preferred payment method. By connecting our technology with MoMo PSB’s wallets through the UBA network, we are giving merchants and customers more options”
Ag. CEO, MoMo PSB, Omolara Michael-Nwadu, who highlighted the barriers to payment in the country, emphasised the importance of partnerships, explaining how integrating MoMo wallets into UBA’s merchant network through Redtech’s infrastructure will unlock additional merchant touchpoints.
“This partnership marks a significant step toward true interoperability in Nigeria’s payments ecosystem. By integrating MoMo wallets into UBA’s merchant network through Redtech’s infrastructure, we are removing barriers between bank-led and mobile money systems while unlocking access to over 55,000 merchant touchpoints. Our focus is on driving usage at scale, enabling more transactions, deeper engagement, and greater value for merchants. At MoMo PSB, we are building a more connected financial ecosystem where payments aren’t tied to platforms but to a seamless customer experience. At MoMo PSB, our focus is on simplifying payments, expanding access to financial services and helping more Nigerians do more every day. Pay with MoMo gives our customers more places to use their wallets, while supporting broader financial inclusion by bringing useful financial services closer to where people live, work and do business.”
UBA’s Group Head, Brands, Marketing and Corporate Communications, Alero Ladipo, captured the broader significance of the moment at the signing ceremony. “Every institution in this room is a giant in its own right. What makes today meaningful is the decision to come together anyway,” she said. Ladipo added, “Financial inclusion is not a slogan to us at UBA. It is a commitment that requires scale, technology, and the willingness to build ecosystems rather than silos. This partnership is that commitment made concrete.”
Pay with MoMo is being introduced through RedPay POS terminals already deployed within UBA’s merchant network. More than 55,000 RedPay POS terminals have been deployed across the network, with the platform having processed over ₦278.47 billion in transaction value and more than 12.23 million transactions to date.
Starting in Nigeria, Pay with MoMo is now live at participating UBA merchant locations, with plans to extend the rollout to selected African markets where both MoMo PSB and UBA operate.
As part of efforts to promote SMEs and strengthen support for operators in the informal sector, Unity Bank has continued to empower small-scale traders and shop owners across Nigeria through its initiative called Shop Collateralised Facility, SHOCOF.
SHOCOF is an innovative loan product, and Unity Bank has disbursed over N500 million to beneficiaries, significantly improving access to financing, and further driving financial inclusion.
Originally introduced as a targeted intervention for traders in Southeast Nigeria, SHOCOF quickly gained traction and broad acceptance for its flexibility and tailored structure, prompting the Bank to expand the product nationwide.
Under the initiative, eligible customers can use their shops as collateral to access financing. The product simplifies access to credit by leveraging the commercial value and stability associated with fixed business locations, enabling traders to secure funds without the stringent collateral requirements associated with traditional lending structures.
The facility provides working capital support that enables beneficiaries to restock goods, increase inventory turnover, improve cash flow, and respond more effectively to market demand.
Recent reports indicate that more than 80 per cent of Nigeria’s small businesses operate informally, with many relying on personal savings and informal borrowing channels due to limited access to Bank credit. SHOCOF was developed to bridge this gap through a lending model tailored to the realities of market traders and small shop owners.
Speaking on the impact of the product, the Group Head, Risk Management, Unity Bank, Olusegun Oladipo, said the Bank recognised the need for financing solutions aligned with the realities of informal sector businesses.
“SHOCOF was created to address a critical gap within the small business ecosystem by providing access to credit through a structure that traders can satisfactorily meet without much ado,” Oladipo said.
He added: “By recognising the value and stability embedded in their businesses, we have been able to support traders with the capital required to sustain and grow their operations.”
Also commenting, Divisional Head, SME & Retail Banking, Unity Bank, Adenike Abimbola, said the nationwide adoption of the product reflects proper market segmentation to meet the growing demand for accessible financing among small business owners.
“What started as a targeted intervention in the Southeast, which quickly gained momentum because the product directly addressed the realities of everyday traders,” Abimbola said.
Over the years, Unity Bank has continued to introduce targeted solutions aimed at empowering entrepreneurs, including its flagship Yanga account package developed to support female entrepreneurs.
The Bank reaffirmed that expanding access to capital for underserved business segments remains critical to boosting trade, strengthening local economies, and driving sustainable economic growth.
Access Holdings Plc has reaffirmed its commitment to longterm shareholder value and sustainable returns, following a strong performance in the 2025 financial year, while providing clarity on the rationale for the nonpayment of dividends for the year ended December 31, 2025.
The clarification was provided during the Group’s Full Year 2025 Investors and Earnings Call, where management addressed shareholder concerns regarding the absence of a dividend declaration despite the Group’s robust earnings growth and balancesheet expansion.
Access Holdings emphasised that the non-payment of dividend for the 2025 financial year was not performance driven, but reflected prudential regulatory alignment matters which required resolution before dividend payments could be effected.
Commenting on the matter, Innocent C. Ike, Group Managing Director/Chief Executive Officer, Access Holdings Plc, said: “Access Holdings has a strong history of consistent dividend payments, and rewarding shareholders remains a core priority for the Board and Management. The nonpayment of dividend for 2025 was not due to earnings weakness or cash flow constraints, but an alignment with regulatory and prudential guidelines.”
For the 2025 financial year, Access Holdings delivered a resilient and diversified performance, underscoring its capacity to generate sustainable shareholder returns. Gross earnings grew by 13.3 percent to ₦5.53 trillion, supported by strong growth in net interest income and a 40.9 percent increase in fees and commissions to ₦585.07 billion. Profit before tax increased by 16.2 percent to ₦1.01 trillion, crossing the ₦1 trillion mark for the first time in the Group’s history.
Total assets expanded by 24.2 percent to ₦51.56 trillion, reflecting scale accretion and the successful integration of recently acquired subsidiaries. The Group’s costtoincome ratio improved significantly from 56.7 percent to 51.7 percent, driven by disciplined cost management and operating leverage. Capital adequacy remained strong at 18.2 percent at the holding company level, while the banking subsidiary ended the year with a capital adequacy ratio of 20.2 percent.
“Our performance in 2025 demonstrates the strength of the franchise and its capacity to generate value for shareholders. Our focus is to ensure that shareholder distributions resume on a sustainable basis once all regulatory conditions are satisfied and the required approvals are obtained,” Ike added.
Access Holdings explained that while dividends were recommended at both halfyear and fullyear in 2025, regulatory approvals were not obtained. At the halfyear stage, the constraint related to Section 7.1 of the CBN Guidelines for Financial Holding Companies, which has since been fully resolved following the successful completion of an approved private placement.
At fullyear, an additional matter arose under Section 19(8)(c) of BOFIA, which places limits on investments in foreign banking subsidiaries relative to shareholders’ funds. The Group has been granted a twelvemonth window to fully remediate this position. The Group noted it will partially divest from some banking subsidiaries but will still retain its super majority shareholding.
According to Ike, maintaining the confidence of our regulators, depositors and stakeholders is fundamental to our operating philosophy. In line with our long-standing culture of prudence and sound governance, the Board remains committed to balance sheet strength and capital resilience, as the basis for sustainable shareholder distributions.”
The Group reassured stakeholders that it remains committed to engaging constructively with all relevant stakeholders to address the matters raised and achieve alignment with applicable requirements within the stipulated timeline. As discussions progress, the Group will continue to provide timely disclosures and transparent updates to the market and investors.
Access Holdings Plc is also strengthening its capital and liquidity buffers to support the sustainable resumption of dividend payments, subject to the fulfillment of the required conditions and approvals.
Reaffirming management’s confidence, Ike stated: “We remain actively engaged with the investment community and focused on resolving the matters raised within the prescribed timeline. Our priority remains delivering sustainable long-term value to shareholders through stronger execution, improved financial performance and disciplined growth. Subject to the successful conclusion of this process and the necessary approvals, our objective is to restore dividend payments on a sustainable basis.”
Concluding, Ike said: “Access Holdings is uniquely positioned to leverage its scale, geographic diversification and strong franchise to deliver resilient earnings growth, stronger returns and enhanced long-term shareholder value.”
