The National Sugar Development Council (NSDC) has announced plans to move Nigeria towards sugar self-sufficiency through a proposed $1 billion investment partnership and a N10 billion project acceleration fund.
The Executive Secretary of the council, Kamar Bakrin, disclosed the initiative in Abuja while receiving members of the Abuja Chapter of the Chartered Institute of Directors (CIoD) on a courtesy visit.
Bakrin said the council was working to reposition Nigeria’s sugar industry as an attractive investment destination under the Nigeria Sugar Master Plan (NSMP) 2.0.
He explained that Nigeria currently consumes approximately 1.8 million tonnes of sugar every year, while about $1 billion is spent annually on sugar imports.
Under the new master plan, the country is targeting domestic production of roughly two million tonnes of sugar, a move expected to significantly reduce dependence on imported sugar.
According to Bakrin, the major challenge confronting the sector is no longer a lack of government policies but the ability to implement them effectively.
He said the council had therefore strengthened its Backward Integration Programme to ensure that companies benefiting from sugar import quotas demonstrate genuine commitment to developing local production.
To improve monitoring, the NSDC plans to deploy satellite technology alongside physical inspections to independently assess the progress of sugar production projects.
Bakrin also disclosed that the N10 billion Sugar Project Acceleration Fund, established in partnership with the Bank of Industry, would provide support for feasibility studies and other preparatory activities required to develop viable sugar projects.
He said the fund would help create a pipeline of bankable projects capable of attracting financing under a $1 billion Engineering, Procurement and Construction-plus-finance agreement with China’s SINOMACH.
The NSDC is also working with the African Export-Import Bank (Afreximbank) and the Nigeria Governors’ Forum to speed up the development of sugar estates across the country.
Bakrin highlighted the wider economic potential of sugarcane, noting that the crop could serve as a source of sugar, ethanol, animal feed and electricity.
He described sugarcane as an important crop with the potential to support Nigeria’s transition towards a stronger bio-industrial economy.
The council, he added, would place farmers and communities hosting sugar projects at the centre of its development strategy through the Sugarcane Outgrower Development Programme.
Under the programme, sugar estates are expected to dedicate portions of their land to outgrower farmers while also contributing to the development of host communities.
Bakrin further called on the CIoD to support efforts aimed at improving corporate governance within sugar estates, processing mills and companies involved in outgrower schemes.
Earlier, the Abuja Chapter leader of the CIoD, Fatima Mede, commended the reforms being pursued by the NSDC and expressed the institute’s willingness to collaborate with the council to strengthen Nigeria’s sugar industry.
