February 12, 2020 Research Report

–  CBN approves six firms for milk importation, bars other.  The companies given approval are

  • FrieslandCampina WAMCO Nigeria,
  • Chi Limited,
  • TG ARla Dairy Products Limited;
  • Promasidor Nigeria Limited;
  • Nestle Nigeria
  • Integrated Dairies Limited

Importers not on the list of companies should therefore cancel all established Form “M” for the importation milk and its derivatives,.

  • Total annual milk demand = 2.2m tons
  • Annual local production = 500,000tons
  • Shortage filled by imports = 1.7m tons
  • cost of imports $1.3b


Trading activities on the floor of NSE on Tuesday – Feb 11, 2020 closed on positive note. 13 gainers were recorded against 17 losers.  ASI appreciated by 99.77 basis points or 0.36% to close at 27,871.90 points as against 27,772.19 recorded the previous trading session.  Market capitalization grew by N52bn from N14.464tn the previous day to N14.516tn

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