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Sugar production: FG plans $350m savings, 100,000 jobs

The federal government adopted Phase II of its 10-year National Sugar Masterplan on Wednesday, with the intention of saving $350 million annually and adding 110,000 new employees.Infomation Guide Nigeria

Immediately following the weekly Federal Executive Council meeting, which was presided over by the President, Major General Muhammadu Buhari (retd. ), at the Presidential Villa in Abuja, the Minister of Industry, Trade, and Investment, Niyi Adebayo, revealed this to State House reporters.

Adebayo further mentioned that the government aimed to produce 400 megawatts of electricity and save $65.8 million on the import of ethanol.

He claimed that both public and private sector participants in the sugar industry, including Dangote, BUA, and Golden Sugar, had generated 15,000 employment and that additional efforts would be made to support the national sugar policys goal of promoting self-sufficiency in the industry.Jamb Result

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“Today, my ministry brought a memo seeking Council’s approval for the second phase of the National Sugar Masterplan. In 2012, the first phase of the sugar master plan was approved, lasting from 2012 to 2022.

“Today, the Council approved the extension from 2023 to 2033. That’s for another 10 years and the whole idea of the Sugar Masterplan is for the development of the sugar industry for self-sufficiency in sugar production.

“The plan has several policy measures or fiscal incentives to stimulate demand and attract private sector investment in the sugar industry. Part of the benefits of the sugar masterplan is the local production of sugar. We have under phase one, four major investors investing in the industry. These are Dangote Sugar, BUA Sugar, Golden Sugar Company, which is a flour mill, Care Africa Group, which bought the Baccita sugar mill.

“They have jointly created 15,000 jobs, and they have over almost 200,000 hectares of land that have been acquired for the production of sugarcane to enable them to produce sugar locally. So, Council approved phase two of the National Sugar Masterplan he said

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Emediong Ekpe

Emediong Ekpe is a graduate of English. A professional Sports journalist/analyst, and a spoken word artist. He is passionate about decimating information and putting smiles on people's faces via news writing.

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