NSDC Urges Nigerian States to Invest in $2 Billion Sugar Market for Sector Growth

The Nation Sugar Development Council (NSDC) is encouraging Nigerian states to invest in the $2 billion sugar market to unlock opportunities in the sugar sector. NSDC's Executive Secretary, Kamar Bakrin, met with the Nigeria Governors' Forum (NGF) leadership to advocate for embracing sugar project development.

The NSDC identified 11 states with suitable land for profitable sugar production, including Oyo, Kwara, Niger, Nasarawa, Kaduna, Kano, Bauchi, Gombe, Jigawa, Adamawa, and Taraba. The stability of global sugar prices and exchange rate movements have made sugar imports significantly expensive, emphasizing the need to enhance domestic sugar production.

The NSDC highlighted that the African Continental Free Trade Agreement (AfCFTA) presents a $7 billion market opportunity for the sugar sector. Additionally, the market for sugar by-products alone is valued at $10 billion in Nigeria.

Dr. Abdulateef Shittu of the NGF acknowledged that some state governments are already engaged in sugar-related investments, emphasizing the importance of effective coordination and credible investment frameworks aligned with federal policies to drive industrial development across the country.