‘Investments in sugar sector rise to N157bn’

Five years after the Federal Government formally drew up the Nigerian Sugar Master Plan, the overall investments in the sugar sector of the national economy have now risen above N157 billion.

This was disclosed in Calabar by the executive secretary of the National Sugar Development Council, Dr Latif Busari, in his overview during this year’s sugar sensitisation workshop held at Transcorp Hotel, Calabar.

The workshop was aimed at stakeholders in the sugar subsector in the southern region with theme ‘Keeping the Implementation of NSMP on Track for Sugar SelfSufficiency’ and a sub-theme ‘Charting a New Course for BIP Implementation’.

Busari said the essence of the gathering was to review what impact the policy on and efforts to boost sugar production was making.

He disclosed that a 50,000 tons per annum sugar estate at Sunti, has been established, and that over 7000 new jobs have been created by all the three local refineries in the country, namely Dangote Sugar Refinery PLC, BUA Sugar Refinery and Golden Sugar Company.

According to him, with new policy in place and projection, total sugar production is put at 777.150mt with anticipated jobs put at 50,000.

Speaking, the chairman of Senate Committee on Industries, Dr Sam Egwu who was represented by Senator Barnabas Gemade, said after his committee carried out oversight functions at sugar refineries and related areas, they encouraged the sugar umpires to move on with determination to encourage entrepreneurs.