NSDC's Kamar Bakrin Unveils $7.1bn Sugar Initiative

Kamar Bakrin, the Executive Secretary and Chief Executive of the National Sugar Development Council (NSDC), announced a revised $7.1 billion, 10-year sugar development program. This initiative aims to bridge Nigeria's domestic sugar production gap, reduce annual foreign exchange expenditure by approximately $2.1 billion, and create 110,000 jobs.

The program includes the establishment of 10 proposed greenfield estates, which are expected to produce 835,000 metric tonnes of sugar annually at full capacity. Bakrin emphasized the importance of moving from policy commitments to measurable implementation, with performance monitored through inspections and satellite technology.

The initiative targets a domestic market demand of 1.8 million tonnes, highlighting the investment and production needed for self-sufficiency. The council has secured 143,478 hectares of land for the projects, which are distributed across eight states.

Independent technical reviews are ongoing to ensure bankability, and some prospective investors have already begun feasibility studies, with hopes for groundbreaking on some projects before the end of the year.