The Nigeria Sugar Development Council (NSDC) says President Bola Tinubu’s economic reforms have made local sugar production more attractive to investors.
According to a statement from the NSDC, its executive secretary, Kamar Bakrin, said this at the 32nd Nigerian Economic Summit while speaking on policy coordination for the non-alcoholic drinks sector.
Mr Bakrin said the reforms had created a pathway towards sugar self-sufficiency, adding that the priority was to translate economic stability into growth and improved livelihoods.
He said sugar production was closely linked to the beverage industry, describing the relationship as an integrated value chain extending from sugarcane farms to bottled drinks.
According to him, the National Sugar Master Plan (NSMP) 2.0 targets self-sufficiency, with projected annual foreign exchange savings of one billion dollars and 110,000 direct jobs.
He said the jobs would largely benefit rural communities, while sugar estates could support infrastructure development through roads, schools, clinics and electricity generation.
Mr Bakrin said brownfield investors had committed to producing 1.22 million tonnes of sugar annually by 2030, two years ahead of the master plan’s 2032 timeline.
He said greenfield projects were expected to contribute another 830,000 tonnes annually by 2030.
The NSDC boss said consistent government policies were essential to sustaining investor confidence, noting that sugar estates require at least four years to reach full production.
He urged policymakers to assess how decisions affecting the sugar and beverage industries could influence investment, employment and the implementation of the master plan.
Mr Bakrin also urged beverage manufacturers to support local sugar production through offtake commitments, outgrower programmes, market information and investments under the Backward Integration Programme.
“When Government protects the conditions for demand, and industry commits to local supply, the whole value chain grows, and the jobs stay in Nigeria,” he said.
He called for the Nigeria Industrial Policy Sectoral Competitiveness and Growth Initiative to align its interventions with the National Sugar Master Plan.
(NAN)
