Nigeria Attracts N157bn Sugar Investments In 5 Years
Nigeria has attracted N157 billion worth of investment in the five years of the first phase of the National Sugar Master Plan, which was designed to increase local sugar production with a view to attain self sufficiency in national sugar demand.
The Executive Secretary of National Sugar Development Council (NSDC), Dr. Latif Busari, made the disclosure yesterday, while chatting with newsmen after a day Northern Region Sugar Sensitization workshop organized by NSDC in Dutse, the Jigawa state capital saying, within the period the establishment of Sunti sugar estate that is capable of producing 50,000 tons per annum was also been achieved.
He added that the Nigerian Sugar Master Plan (NSMP) which is a policy road map for sugar production was implemented in 2013 with the objective to achieve self sufficiency in sugar production, save forex on the importation of sugar and ethonol and establishment of 28 factories of varying capacities across the country among others.
Dr.Busari, also highlighted that difficulties in land acquisition by sugar industries as a result of hostalities by host communities and flooding of sugar estates owing to release of water from Kainji and Jebba dams had made it difficult for Nigeria to attain self sufficiency in sugar production.
He added that persistent smuggling of sugar products into the country and difficulty in accessing cheap fund by the investors had been a major problem for local content production saying, the constrained led to several colloborative initiatives with other sisters agencies like package sugar producers association of Nigeria and Nigeria Custom Service.
While stating the way forward toward self sufficiency, Dr. Busari said issues pertaining land allocation needed to be presentated before the governors’ forum with view to elicit their support over land related matters which had been a nightmare to sugar industrialists in the country.