The National Sugar Development Council (NSDC) is pursuing sugar self-sufficiency through a $1 billion investment partnership and a ₦10 billion fund aimed at accelerating sugar projects across Nigeria.
The Executive Secretary of the NSDC, Kamar Bakrin, disclosed this in a statement issued on Sunday in Abuja.
Mr Bakrin spoke during a recent courtesy visit by members of the Abuja Chapter of the Chartered Institute of Directors (CIoD), where he outlined efforts to reposition the sugar sector as a major investment destination under the Nigeria Sugar Master Plan (NSMP) 2.0.
He said Nigeria currently consumes about 1.8 million tonnes of sugar annually and spends approximately $1 billion each year on imports.
According to him, the revised master plan is designed to increase domestic sugar production to about two million tonnes.
“We do not lack policy. What we have struggled with is world-class execution,” Bakrin said.
Mr Bakrin said the council had strengthened its Backward Integration Programme to ensure that companies granted sugar import quotas make verifiable commitments to local production.
He added that the NSDC would deploy satellite imagery alongside physical inspections to independently monitor and confirm sugar production activities.
The executive secretary said the ₦10 billion Sugar Project Acceleration Fund, established in collaboration with the Bank of Industry, would support feasibility studies and other project preparation activities.
“The initiative will create a pipeline of bankable projects capable of accessing the one billion dollars Engineering, Procurement and Construction-plus-finance agreement with SINOMACH of China,” he said.
Mr Bakrin said the council was also holding discussions with Afreximbank and the Nigeria Governors’ Forum to speed up the development of sugar estates across the country.
He noted that sugarcane offered opportunities beyond sugar production, as it could also be processed into ethanol, animal feed and electricity, making it a potential driver of Nigeria’s emerging bio-industrial economy.
“We have been blessed with a crop that is one of the most generous God has ever made,” he said.
Mr Bakrin said the council would place greater emphasis on the participation of farmers and host communities through the Sugarcane Outgrower Development Programme.
Under the initiative, he said, sugar estates would be required to allocate portions of their land to outgrowers while also supporting development initiatives in their host communities.
The NSDC boss also called on the CIoD to promote stronger corporate governance standards among sugar estates, mills and outgrower companies.
Earlier, the leader of the CIoD Abuja Chapter, Mrs Fatima Mede, commended the council’s ongoing reforms and pledged the institute’s support for efforts to develop Nigeria’s sugar industry.
