Local industries have spent approximately N250 billion in sugar manufacturing in the past seven years, according to Executive Secretary of the National Sugar Development Council Zacch Adedeji via a statement by the council’s Deputy Director of Public Affair Mal Ahmed Waziri.
According to its statistics, Nigeria is making steady and noticeable progress in implementing its sugar policy plan, as outlined in the Nigeria Sugar Master Plan (NSMP), a blueprint aimed to revitalise the industry and turn it into a net exporter of the commodity.
The NSMP is an ambitious 10-year policy framework for the industry to transform Nigeria into a self-sufficient country in terms of sugar production. It also aims to create direct and indirect employment and establish the country as a major worldwide sugar producer as well as manufacturer of ethanol for industrial and residential consumption.
The policy went into force in 2013 after being adopted by the Federal Executive Council in September 2012 as the government’s strategic plan for sugar development in the country.
According to Adedeji, the industry has drawn over N250 billion in investments under its Backward Integration Programme after the policy was implemented, and more investors have shown willingness to invest more of their resources to strengthen the sector.
