NSDC Aims to Lower Sugar Production Costs in Nigeria

The National Sugar Development Council (NSDC) has intensified efforts to lower the cost of sugar production in Nigeria, as local factories incur costs between two and ten times higher than their international competitors for power, credit, and logistics. During a meeting of the National Council on Industry, Trade and Investment (NCITI) in Enugu, Executive Secretary Mr Kamar Bakrin stated that disciplined pricing of production inputs could transform Nigeria from an importing nation into a top-10 global exporter.

He compared the operational costs of factories in Nigeria, Vietnam, and China, noting that Nigerian manufacturers pay significantly more for electricity and working capital. Bakrin pointed out that Nigerian manufacturers spent approximately ₦1.34 trillion last year on self-generated electricity.

He emphasized that manufacturing contributes only 8% of Nigeria's GDP, with capacity utilization at 57.7%. Bakrin urged that the current macroeconomic reforms provide a unique opportunity for factories to plan and invest, as Nigeria must either compete in the African market or concede it to others.