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🇳🇬 Nigeria /Economy & Trade

Nigeria Mobilises $1 Billion Investment for Sugar Self-Sufficiency

From ThisDay · () English

Translated from English and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources New plan
  • Nigeria is launching a new strategy to achieve sugar self-sufficiency, backed by a $1 billion investment partnership with China's SINOMACH and a ₦10 billion acceleration fund.
  • The initiative, part of the Nigeria Sugar Master Plan (NSMP) 2.0, aims to increase local sugar production to two million metric tonnes annually, reducing reliance on imports that cost an estimated $1 billion each year.
  • The National Sugar Development Council (NSDC) is also tightening import quota enforcement and using satellite monitoring for its backward integration program to ensure effective implementation.

Nigeria is intensifying its drive for sugar self-sufficiency with a new $1 billion investment and enforcement strategy, aiming to transform the nation's sugar industry into a significant economic powerhouse. This initiative is a cornerstone of the Nigeria Sugar Master Plan (NSMP) 2.0.

The strategy involves a partnership with China's SINOMACH for engineering, procurement, and construction (EPC), alongside a ₦10 billion Sugar Project Acceleration Fund. The primary goal is to boost local sugar production to approximately two million metric tonnes annually, significantly reducing the country's dependence on imported sugar, which currently costs an estimated $1 billion per year.

Kamar Bakrin, Executive Secretary/Chief Executive Officer of the National Sugar Development Council (NSDC), highlighted that Nigeria's challenge lies not in policy but in execution. He emphasized that effective institutions are key to bridging the implementation gap. The NSMP 2.0 is designed as an "acceleration mandate" to expedite the journey toward self-sufficiency.

We don’t lack policy. What we have struggled with is world-class execution.

— Kamar BakrinThe Executive Secretary/Chief Executive Officer of the NSDC, explaining the core challenge facing Nigeria's sugar sector.

Beyond merely replacing imports, the NSDC envisions sugarcane as the foundation for a broader bio-industrial economy. Sugarcane can yield sugar, ethanol, animal feed, and electricity, fostering interconnected industries. To bolster investor confidence, the Council has revamped its Backward Integration Programme around principles of qualification, reward, verification, and enforcement.

Companies seeking import quotas must now demonstrate genuine commitment to backward integration. Major refiners will need to provide audited production commitments linked to their quotas, with consequences for failing to meet these obligations. The NSDC is also employing satellite monitoring to ensure compliance and effective backward integration.

Our job is to build a bio-industrial ecosystem around it, this is not just about producing a commodity.

— Kamar BakrinDescribing the broader economic vision beyond sugar production, leveraging sugarcane's potential.
About this summary

Originally published by ThisDay in English. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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