In 7 Years, Sugar Sector Gets N200bn Investments – NSDC

The National Sugar Development Council (NSDC) has said N200 billion investments have been made in the sugar sector on the Backward Integration Programme (BIP) in the last seven years.

The programme, a 10-year blueprint designed for the sugar sector known as the Nigerian Sugar Master Plan (NSMP), has led to the employment of thousands of youths, the Executive Secretary of NSDC, Mr. Zacch Adedeji, said yesterday during a media parley in Abuja.

He said, “I am delighted to state here that seven years into the implementation of the policy and three more years to go, the sector has attracted investments well over N200 billion through the faithful implementation of the Backward Integration Programme, even as more investors have expressed their willingness to commit their resources to the sector.”

He said recently, a new investor, KIA Group Africa, completed the process of acquiring the defunct Nigeria Sugar Company (NISUCO) in Bacita, Kwara State and has since commenced work. It joins other players like Dangote Group, BUA Group and the Flour Mills to drive the BIP.

He added that the group has plans to produce at least 300,000 Metric Tons (MT) of sugarcane, refining an estimated 204,000MT of the sweet commodity, and in turn generate N46bn revenue by 2027.

“A workforce of about 20,000 employees would be engaged to drive the company towards optimum production and ensure the economic growth of the country.”

Adedeji added that the federal government through NSDC is committed to building a globally competitive sugar industry that would boost the local economy, provide jobs for Nigeria’s teeming youth population and position the country as a net exporter of the commodity.