FG Mulls Investment In Sugar Sector – Bissala

Sugar

The permanent secretary , Federal Ministry of Industry, Trade and Investment, Aminu Aliyu Bissala says the present administration is keen on harnessing the enormous potential in the nation’s sugar industry for the overall benefit of Nigeria and Nigerians.

Bissala, who expressed optimism in the present administration’s quest to diversify the nation’s economy, says that the sugar sector as presently positioned is capable of providing answers to the myriad of economic crises facing the nation at this point in time.

Bisala said that the time to organize the workshop, “which seeks to mobilize and enlighten the stakeholders on the abundant opportunities in the Nigerian sugar sector for investment purposes cannot be more opportune than now.”

He stressed that “the need to create awareness about the potential that exist for investors in the sugar sub sector is also critical particularly at this time of our national life when government is confronted frontally by the challenges of unemployment with the attendant social vices; low value of naira in relation to other world major currencies with the balance of payment problems; poverty and low standard of living; etc. The investment opportunities and versatility of the nation’s sugar sub-sector cannot be over-emphasised.

Meanwhile, the National Sugar Development Council (NSDC) yesterday disclosed that Nigeria is set to meet 1.79 metric tonnes of sugar, 161.2m litres of ethanol by 2023.

NSDC also hinted that it is planning to generate about 411MW of electricity and create about 117,000 jobs after the end of its 10-year plan the Nigerian Sugar Master Plan (NSMP) by 2023. The acting Executive Secretary of the Council, Mr. Samuel Ali Kwabe disclosed in Abeokuta at the Sugar Sensitization workshop with the theme: ‘Sustaining the gains of NSMP for National Self-Sufficiency in Local Sugar Production.’
He noted that the master plan had also been adopted by the federal government “as a Road Map” to national self-sufficiency in sugar.

According to him, the road map was meant to provide the enabling environment and support to investment initiatives in both sugar cane cultivation and sugar factory processing operations.

The Executive Secretary, who was represented by Director Policy Planning Research and Statistics, Kolawole Hezekiah, stated that the NSMP commenced in January 2013.

“And it is expected that by the end of the 10-year plan period, Nigeria would have built up the industrial capacity required to among other benefits, produce about 1.79m metric tonnes of sugar and 161.2 litres of ethanol. It will also substantially reduce importation of sugar to conserve the huge foreign exchange spent on imports annually; generate about 411MW of electricity; and create about 117,000 jobs etc,” he said.