NSDC Invests ₦2.2bn in Oyo Sugar Factory Commissioning

The National Sugar Development Council (NSDC) has invested approximately ₦2.2 billion in Oyo Sugar and Derivatives Industries Limited (OSDL) as its factory in Iseyin, Oyo State, nears the commissioning and test-running phase. The 300-tonnes-per-day sugar mill is part of the Nigeria Sugar Master Plan aimed at enhancing domestic sugar production through the Backward Integration Programme.

The NSDC's funding included ₦1.64 billion for the core sugar mill and additional support for sugarcane development. The Oyo State Government contributed about ₦850 million in equity funding.

Kamar Bakrin, the executive secretary and chief executive officer of the NSDC, stated that the factory's readiness for commissioning reflects the commitment of the Council, the state government, and the project promoters. He emphasized that the NSDC will continue to support OSDL as it transitions to full-scale commercial production, highlighting the potential for Nigeria's sugar sector to thrive on locally grown cane.