The National Sugar Development Council (NSDC) is preparing to work with the Abuja Chamber of Commerce and Industry (ACCI) to attract investments aimed at strengthening Nigeria’s sugar sector, reports blueprint.
During a visit by the ACCI leadership, led by Barr. Emeka Obegolu, SAN, NSDC Executive Secretary Kamar Bakrin outlined the council’s goal of producing 2 million metric tons of sugar annually, enough to meet the country’s current demand of about 1.8 million tons.
He said: “One of the ways we identified very clearly was where this council or every unit should focus. It declares as a priority task the search and preparation of new production sites for sugarcane farming and sugar manufacture. The council is working on developing the criteria that are likely to mean success for each site nation-wide and will be able to monitor how sites fare in years to come.
We want that and we also have money bags who want to come to invest in sugar production here because it is very lucrative, Bakrin added. He highlighted what such a program could achieve by referring to similar programs in countries such as Tanzania and Senegal.
Bakrin also called for heavy investment in the sector, suggesting that about $5 billion would be needed. He said investment for the sugar industry’s growth is the key and it wants to facilitate funding through appropriate and long-term financing options, where NSDC can play its role.
In addition to financial support, Bakrin emphasized the provision of community support where sugar projects would be situated. The passage of this bill also involves job creation for localities and building a new irrigation system (a much-needed resource in sugarcane farming).
The NSDC is also interested in ensuring that companies engaged in sugar production contribute to the welfare of local communities and has made mandatory the participation of these organizations under Corporate Social Responsibility (CSR) programmes.
Barkin said he was hopeful of his cooperation with ACCI, adding, ” We appreciate our relationship with ACCI and believe that the cooperation between us will benefit both parties.”
