(3 minutes read)
- The Executive Secretary, National Sugar Development Council (NSDC) of Nigeria , Zacch Adedeji, exuded optimism about the sugar production in the country and said that Nigeria is recording steady and appreciable progress in the implementation of the Nigeria Sugar Master Plan (NSMP).
- Adedeji observed that seven years into the policy and with three more years to go, the sector had attracted over N250 billion worth of investments through its backward integration program.
The Executive Secretary, National Sugar Development Council (NSDC) of Nigeria , Zacch Adedeji, exuded optimism about the sugar production in the country and said that Nigeria is recording steady and appreciable progress in the implementation of the Nigeria Sugar Master Plan (NSMP).
Adedeji observed that seven years into the policy and with three more years to go, the sector had attracted over N250 billion worth of investments through its backward integration program. More investment is in the pipeline. He revealed that a new investor, KIA Group Africa has completed the process of acquiring the defunct Nigeria Sugar Company (NISUCO) in Bacita, Kwara State. The work towards the acquisition has started and will be completed soon. The other companies in the sugar production are Dangote Group, BUA Group and Flour Mills etc.
The NSMP is a 10-year blueprint designed to revitalize the sector. It aims at making Nigeria a net exporter of the commodity. The new player -KIA Group- has set its eyes on producing at least 300,000 metric tonnes of sugarcane, refining an estimated 204,000 metric tons of the commodity while generating N46 billion revenue by 2027. It will employ about 20,000, when the company becomes fully operational.
Meanwhile, Flour Mills recently signed a multi-millionaire agreement with the Nasarawa State Government to build a factory in Toto Local Government Area of the state. The new project will boost the company’s N50 billion Golden Sugar Estate in Sunti Niger State.
