At the Nigerian Sugar Investment Forum on Monday, Minister of Industry, Trade, and Investment, Niyi Adebayo, underscored Nigeria’s sugar industry as a catalyst for economic growth and diversification.
Emphasizing vast opportunities across production, refining, and value-added products, Adebayo noted that the sector is primed for expansion.
“The Nigerian sugar sector is ripe for investment, and we are committed to creating an enabling environment for both domestic and foreign investors,” Adebayo stated, according to Vanguard.
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He highlighted the industry’s role in job creation, economic development, and agricultural transformation. While Nigeria currently imports much of its sugar, government initiatives like the National Sugar Development Council (NSDC) and the Sugar Master Plan aim to boost local production, supported by incentives such as tax relief and import duty exemptions.
Experts at the forum projected significant revenue, job creation, and rural development from the sector, with Nigeria’s favorable climate positioning it as a strong player in the growing global sugar market.
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