Zacch Adedeji, the Executive Secretary of the National Sugar Development Council (NSDC), has reassured Nigerians that there is no need to fear a sugar shortage. He emphasized that the current sugar supply is sufficient to meet local consumption needs.
Adedeji stated, “There is no suspension of sales or production of sugar in the country. We only consume 1.7 metric tonnes, which is less than five per cent of what we have in stock. The existing stock is more than enough to cover both the Holy Ramadan period and the Christian Lenten season, so there is no scarcity of sugar, and people should not resort to panic buying.”
He made this announcement on Wednesday in Abuja while addressing journalists after the formal presentation of the 2022 presidential approval for raw sugar quota allocations to refineries.
Adedeji noted that President Muhammadu Buhari has mandated that stakeholders submit an audited action plan quarterly. Additionally, partners in the sector, such as the Central Bank of Nigeria, the Ministry of Finance, the Ministry of Industry, Trade and Investment, and the Nigerian Customs, have been instructed to grant zero duty to operators participating in the sugar backward integration programme (BIP).
He also reminded operators that the NSDC will sanction any company violating the National Sugar Development Council Act of 2015.
Operators involved in the council’s backward integration programme expressed concerns about potential delays in implementation. Ayodele Ayodeji, Managing Director of BUA Foods, highlighted the issue of foreign exchange inaccessibility for importing raw sugar and machinery. He questioned how quickly the government would implement the Presidential directives to help accelerate the sector.
Kenneth Iriogbe, a representative of KIA Group, urged the government to provide the necessary foreign exchange to ensure increased production, supply, and distribution of sugar for both local consumption and exports.
Sadiq Usman from the Ministry of Finance called on operators to ensure that all required documents for foreign exchange approval are fully attached to their applications before submission.
