The National Sugar Development Council (NSDC) is pursuing sugar self-sufficiency in Nigeria through a $1 billion investment partnership and a ₦10 billion fund designed to accelerate sugar projects across the country.
The Executive Secretary of the NSDC, Kamar Bakrin, disclosed this in Abuja during a recent courtesy visit by members of the Abuja Chapter of the Chartered Institute of Directors (CIoD).
Bakrin said the initiatives were part of efforts to reposition Nigeria’s sugar industry as a major investment destination under the Nigeria Sugar Master Plan (NSMP) 2.0.
He disclosed that Nigeria currently consumes about 1.8 million tonnes of sugar annually and spends approximately $1 billion on imports each year.
According to him, the revised master plan targets an increase in domestic sugar production to about two million tonnes, significantly reducing the country’s dependence on imports.
“We do not lack policy. What we have struggled with is world-class execution,” Bakrin said.
The NSDC boss said the council had strengthened its Backward Integration Programme to ensure that companies receiving sugar import quotas make verifiable commitments to domestic production.
He added that the council would deploy satellite imagery alongside physical inspections to independently monitor and verify sugar production activities.
Bakrin also disclosed that the ₦10 billion Sugar Project Acceleration Fund, established in collaboration with the Bank of Industry, would finance feasibility studies and other project preparation activities.
He said the fund would help develop a pipeline of bankable projects capable of accessing the $1 billion Engineering, Procurement and Construction-plus-finance agreement with SINOMACH of China.
The executive secretary said the council was also engaging the African Export-Import Bank (Afreximbank) and the Nigeria Governors Forum to accelerate 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, potentially making the crop a major contributor to Nigeria’s emerging bio-industrial economy.
Bakrin said the council would also prioritise the participation of farmers and host communities through the Sugarcane Outgrower Development Programme.
Under the initiative, he explained that sugar estates would be required to allocate portions of their land to outgrower farmers while supporting development initiatives within host communities.
He further called on the Chartered Institute of Directors to promote stronger corporate governance standards among sugar estates, mills and outgrower companies.
Earlier, the leader of the CIoD Abuja Chapter, Fatima Mede, commended the NSDC for its ongoing reforms and pledged the institute’s support for efforts to develop Nigeria’s sugar industry.
The NSDC said the combined investment, financing and outgrower initiatives would help unlock Nigeria’s sugarcane potential, attract private capital and move the country closer to achieving self-sufficiency in sugar production.
