The National Sugar Development Council (NSDC) has announced plans to facilitate $5 billion worth of investments in Nigeria’s sugar industry by 2025.
This was disclosed by the Executive Secretary of NSDC, Mr. Kamar Bakrin, during a keynote address at a retreat for members of the Federal House of Representatives Committee on Industry in Calabar, Cross River State.
Mr. Bakrin reaffirmed the Council’s commitment to making Nigeria self-sufficient in sugar production, outlining a comprehensive plan for accelerating sugar sector development. He emphasized that 2025 will be a pivotal year, describing it as a “year of acceleration” for the sector.
“Our key priorities for 2025 include accelerating project development, securing $5 billion in investments, preparing key greenfield projects for investment, and strengthening NSDC’s capacity to develop the sector,” Bakrin said. He further highlighted the need to amend the NSDC Act to address policy inconsistencies and solidify market protection provisions, which are crucial for attracting investors.
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Bakrin also stressed that 2024 has been a year of resetting the sugar industry’s agenda, with 2025 expected to see significant advancements toward the goals of the Nigeria Sugar Master Plan (NSMP) II. These include attaining self-sufficiency, developing a globally competitive sector, and making Nigeria the cost leader in sugar production across Africa.
He outlined seven strategic pillars essential to achieving these objectives, including ensuring sugarcane farming for the Backward Integration Programme (BIP) takes place on suitable land, attracting well-resourced investors, and fostering sustainable farming and production practices. The NSMP has already attracted $1 billion in investments and created over 15,000 jobs, according to Bakrin.
Committee Chairman Hon. Dolapo Enitan Badru expressed the Committee’s commitment to supporting the Council’s 2025 objectives, emphasizing the importance of amending the NSDC Act to boost investor confidence and close loopholes in the current law.
The retreat, themed “Creating Synergy for Nigeria’s Sugar Industry Development,” brought together key stakeholders to discuss the future of Nigeria’s sugar industry and the steps needed to ensure sustainable growth.
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