NSDC Secures $1 Billion Investment for Sugar Self-Sufficiency

The National Sugar Development Council (NSDC) has initiated a $1 billion EPC-plus-finance partnership with SINOMACH of China to bolster Nigeria's sugar production capabilities. This partnership is part of the ₦10 billion Sugar Project Acceleration Fund established with the Bank of Industry under the Backward Integration Programme (BIP).

Executive Secretary/CEO Mr. Kamar Bakrin stated that Nigeria consumes approximately 1.8 million metric tonnes of sugar annually, with about $1 billion spent on imports. He emphasized that the Nigeria Sugar Master Plan (NSMP) 2.0 aims to achieve self-sufficiency by producing about two million metric tonnes of sugar locally.

The NSMP 2.0 is designed to capture the full value chain of sugar production, including ethanol and animal feed. The Backward Integration Programme will operate on principles of qualification, reward, and verification to ensure real production aligns with quota privileges.

Mrs. Fatima Mede, leading a delegation from the Chartered Institute of Directors, praised the NSDC's reforms and expressed readiness to collaborate.