The Executive Secretary of the National Sugar Development Council (NSDC), Mr. Kamar Bakrin, has announced that Nigeria’s sugar industry will need an estimated $3.5 billion in investments to achieve its full potential under the Nigeria Sugar Master Plan (NSMP) Phase II. This statement was made during the Sugar Industry Monitoring Group (SIMOG) meeting held in Abuja, where Mr. Bakrin outlined the significant financial and land resources required for the successful implementation of the plan.
Mr. Bakrin emphasized the critical need for substantial investments to meet the ambitious targets set by the NSMP Phase II, which aims to produce a minimum of 2 million metric tons of sugar annually, generate 400 megawatts (MW) of electricity, and create 110,000 jobs across the sugar value chain. He also highlighted the necessity for 200,000 to 250,000 hectares of suitable land to support the plan’s objectives.
Reflecting on the performance of Phase I of the NSMP, Mr. Bakrin presented a roadmap for Phase II’s implementation, urging industry operators, who are members of SIMOG, to adhere to their commitments. He assured that the NSDC would continue to fulfill its role in developing the sector to achieve the desired growth.
“A robust framework has been devised to monitor the performance of NSMP II, establishing clear targets and milestones over the period,” Mr. Bakrin stated, adding that this monitoring mechanism would ensure accountability and allow for timely adjustments to optimize outcomes.
The Federal Government is set to formally unveil Phase II of the NSMP as a demonstration of President Bola Tinubu’s commitment to the plan’s goals, including self-sufficiency in sugar production, job creation, and industrialization. Mr. Bakrin also mentioned ongoing efforts to amend the NSDC Act, aiming to provide better support for the sector’s growth and enhance investor confidence.
The NSMP, first approved and launched by the Federal Government in 2012, serves as a strategic roadmap for the development of Nigeria’s sugar sector, creating a conducive policy environment to attract investments in domestic production through backward integration programs. These programs offer tax incentives to investors, positioning the industry as a key player in Nigeria’s economic growth.
The SIMOG meeting, which brought together CEOs from all local sugar manufacturing companies, serves as a peer review group that validates performance data and shares best practices. Participants included representatives from major industry players such as Dangote Sugar Refinery, BUA Foods, Flour Mills, and KIA Africa.
The unveiling of Phase II of the NSMP marks a significant step forward in Nigeria’s quest to become self-sufficient in sugar production and underscores the crucial role of investment and strategic planning in the country’s industrial development.
