Chairman of Dangote Sugar Refinery, Aliko Dangote has stated that Nigeria will save up to $700 million annually if stakeholders comply with the national sugar master plan (NSMP).
In 2008, the national sugar development council (NSDC) developed the NSMP to boost the country’s self-sufficiency in sugar production.
Sugar data from the NSDC for 2019 put Nigeria’s consumption at 1.4 million tonnes, production at 38,597 tonnes, while the country imported 1.36 million tonnes during the period.
A major component of the NSMP is the backward integration programme (BIP) undertaken by the trio of Dangote Sugar Refinery, BUA Sugar Refinery and Flour Mills’ Golden Sugar.
Speaking at the company’s 15th annual general meeting in Lagos, Dangote said a distortion in the sugar master plan framework would affect the target of self-sufficiency in sugar production.
He said the BIP would reduce importation of raw materials and save the country’s foreign exchange.
“If the National Sugar Master Plan is followed strictly and the players all follow the rules, the country will be better for it as Nigeria will save between $600 million and $700 million annually as forex,” he said.
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