By Tony Obiechina, Abuja
As part of efforts to boost sugar production in Nigeria, the federal government has announced the approval of two companies who have indicated interest to invest in the country’s sugar sector.
The investment by the companies is coming at a time when the Federal Government is about to commence implementation of the second phase of the ten-year Nigerian Sugar Masterplan (2023-2033)
Executive Secretary of the National Sugar Development Council (NSDC), Mr Zacch Adedeji, who made the announcement during an interactive session with journalists in Abuja on Wednesday said the Memorandum of Understanding between the two investors and the state governments involved in the deal would be signed and unveiled in the next two weeks.
The states, according to him, are Nasarawa and Oyo States, adding that all the necessary policy and technical guidelines have been concluded.
These new investors, he explained would focus on the field and agricultural aspect of the Nigerian Sugar Masterplan, which is the engine room of the Policy.
He said, “I am pleased to announce to us this day that we have two new investors who are set to come on board. In a week or two from now, we shall invite you again to witness the signing of a Memorandum of Understanding between the Nasarawa state Government and one of the investors and another between the Oyo state Government and the second investor.
“All the necessary policy and technical guidelines have been concluded. These new investors would focus on the field and agricultural aspect of the NSMP, which is the engine room of the NSMP.
“We’ve made considerable progress in critical segments of the NSMP, especially as it relates to the refining component of the plan.
“Our next plan of action is how to replicate the successes recorded in the area of sugar refining in our field and agricultural operations which will be our focus in the next phase.” he said.
Presently, the Sugar Council Boss said a total of four companies have signed unto the Backward Integration Programme (BIP) of the NSMP. The companies are Dangote Sugar Refinery, BUA Sugar Refinery, Golden Sugar Refinery and KIA Africa Group.
