NSDC's Kamar Bakrin: Tinubu's Reforms Boost Sugar Production

Kamar Bakrin, the Executive Secretary and Chief Executive Officer of the National Sugar Development Council (NSDC), stated that President Bola Tinubu's macroeconomic reforms have made local sugar production more appealing to investors, enhancing Nigeria's chances of achieving sugar self-sufficiency. Speaking at the 32nd Nigerian Economic Summit, Bakrin highlighted the need to translate economic stability into growth that benefits ordinary Nigerians.

He identified job creation, rural livelihoods, security, foreign exchange pressures, food security, and cost of living as national priorities. Under the Nigeria Sugar Master Plan (NSMP) 2.0, the country aims for self-sufficiency in sugar production, which Bakrin claimed could save about $1 billion in foreign exchange annually and create approximately 110,000 direct jobs, mainly in rural areas.

He noted that sugar estates could also promote rural development by providing infrastructure and essential services. Additionally, Bakrin mentioned that brownfield investors have committed to producing 1.22 million metric tonnes of sugar annually by 2030.