Abuja: The National Sugar Development Council (NSDC) is targeting sugar self-sufficiency through a one billion dollars investment partnership and N10 billion acceleration fund. The Executive Secretary of NSDC, Mr. Kamar Bakrin, stated this during a recent engagement with the Abuja Chapter of the Chartered Institute of Directors (CIoD). The meeting focused on repositioning Nigeria’s sugar industry as a major investment opportunity under the Nigeria Sugar Master Plan (NSMP) 2.0.
According to News Agency of Nigeria, Bakrin highlighted that Nigeria consumes approximately 1.8 million tonnes of sugar annually, with an expenditure of about one billion dollars on imports. The NSMP 2.0 aims to boost local production to around two million tonnes. Bakrin emphasized that while the country possesses adequate policy frameworks, the challenge lies in effective execution. To address this, the Council has reinforced its Backward Integration Programme, mandating that companies with import quotas demonstrate genuine production
commitments.
The NSDC plans to utilize satellite imagery and field inspections to independently verify sugar production activities. Additionally, the N10 billion Sugar Project Acceleration Fund, established with the Bank of Industry, will support feasibility studies and project preparations. This initiative is expected to create a pipeline of bankable projects that can access the one billion dollars Engineering, Procurement, and Construction-plus-finance agreement with SINOMACH of China. Furthermore, Bakrin mentioned ongoing engagements with Afreximbank and the Nigeria Governors’ Forum to expedite sugar estate development across the country.
Bakrin noted the versatile nature of sugarcane, which can produce sugar, ethanol, animal feed, and electricity, positioning it as a cornerstone for Nigeria’s bio-industrial development. He also outlined plans to prioritize farmers and host communities through the Sugarcane Outgrower Development Programme, ensuring sugar estates reserve land for outgrowers and invest in
local communities. The NSDC head called on the CIoD to support enhanced corporate governance across sugar estates, mills, and outgrower companies.
In response, Mrs. Fatima Mede, leader of the CIoD Abuja Chapter, praised the NSDC’s reforms and pledged the Institute’s collaboration in advancing the sugar industry.