Sugar sector attracts N250 billion investments in five years

You are currently viewing Sugar sector attracts N250 billion investments in five years

The Executive Secretary, National Sugar Development Council (NSDC), Zach Adedeji, says that the sugar sector attracted over N250 billion in investments in the past five years.

“The Nigerian sugar industry has been well repositioned to meet the yearnings and aspirations of interested parties. We are quite optimistic and ready to translate our policies to tangible achievements” he said.

Adedeji believes the Nigerian Sugar Master Plan (NSMP) will accelerate the drive to attain self-sufficiency in sugar production. NSMP is a 10-year policy document approved by the government for the sector. Adedeji said given its huge human population and vast arable land, the country has all it takes to become a major player in the global sugar market. He stressed the need for key players in the industry to redouble their efforts, especially as it relates to the implementation of the sugar backward integration programme.

Adedeji said this during a working visit to the Lafiagi Sugar Company (LASUCO), a subsidiary of BUA Group, in Kwara State.

According to him, it is time the upstream segment of the sector replicated the success story of sugar processing. He noted: “The sugar sector is, without doubt, a critical aspect of our national economy that holds enormous opportunities for Nigeria and Nigerians. It is a sector with profitable investments as seen in the number of investors currently doing business in the industry. We are, indeed, very interested in contributing to job creation and provision of employment opportunities for our youths.”

Leave a Reply