Nigeria Targets $7.1bn Sugar Investment To Cut Import Dependence

Nigeria is targeting sugar self-sufficiency through a $7.1 billion investment programme over 10 years, with projected annual foreign exchange savings of $4.1 billion and about 110,000 direct and indirect jobs. The plan aims to raise domestic production from about 27,000 metric tonnes to more than two million tonnes annually.
The country consumes approximately 1.8 million tonnes of sugar a year, with more than 97 per cent of domestic consumption refined from imported raw sugar, underscoring the scale of its dependence on foreign supplies.
The executive secretary and chief executive officer of the National Sugar Development Council (NSDC), Kamar Bakrin, disclosed the plan in Abuja, sayi...