Sugar plan targets 2 Million metric tons production with $5bn investment – NSDC

The National Sugar Development Council (NSDC) has announced that the second phase of the Nigeria Sugar Master Plan (NSMP) aims to boost domestic sugar production to two million metric tons annually, a goal that requires approximately $5 billion in investment.

Executive Secretary of the Council, Mr. Kamar Bakrin, made this known during a meeting in Abuja with the leadership of the Abuja Chamber of Commerce and Industry (ACCI). He highlighted the NSMP as a ten-year blueprint designed to achieve self-sufficiency in sugar production, with the goal of meeting Nigeria’s annual consumption demand of 1.8 million metric tons.

Bakrin stressed the importance of mobilizing the right funding, noting that the NSDC will play a key role in facilitating both equity and project finance for the sector. He also urged private sector players, through ACCI, to participate in the various critical pillars identified in the plan.

In response, ACCI President Barr. Emeka Obegolu expressed the chamber’s willingness to collaborate with the NSDC to enhance the success of the Sugar Master Plan.